US threatens to reimpose Venezuelan oil sanctions

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State Department spokesperson Matthew Miller said in a statement that without progress toward allowing all candidates to participate in the nation’s upcoming elections, sanctions on Venezuelan oil will be reimposed. 


“Absent progress between [Venezuelan President Nicolás] Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year’s election, the United States will not renew the license when it expires on April 18, 2024,” Miller said, referring to a license that eased sanctions on oil produced in Venezuela.


Miller said also that the U.S. will revoke sanctions relief on the Venezuelan state-owned gold mining company.


The Biden administration announced in October that it was
lifting sanctions on Venezuelan oil after the Maduro government signed an election reform agreement that included allowing international observers to monitor its elections


The threat of reimposing sanctions comes after Venezuela’s highest court upheld a ban on opposition candidate Maria Corina Machado.


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