WASHINGTON (AFP) – The United States (US) will ease some oil and gas sanctions against Venezuela after the South American country’s government and opposition agreed to hold elections next year.
In response to those “democratic developments”, the US Treasury Department “has issued General Licenses authorising transactions involving Venezuela’s oil and gas sector and gold sector”, and is “removing the ban on secondary trading” in debt securities, a statement from undersecretary for terrorism Brian Nelson said on Wednesday.
But it also said that those authorisations could be amended or revoked at any time if the electoral deal falls through.
“Let’s turn the page, let’s rebuild a relationship of respect, of cooperation… this is my message to those in power, and to the government of the US,” Venezuelan President Nicolas Maduro said, while also calling for a definitive end to the sanctions.
To uphold the agreement, the US warned Venezuela that it must “define a specific timeline and process for the expedited reinstatement of all candidates” by the end of November, US Secretary of State Antony Blinken said.
“All who want to run for president should be allowed the opportunity,” he said in a statement.
The agreement between Washington and Caracas comes just a day after the Venezuelan government and opposition reached a deal in Barbados – mediated by Norway – to hold elections in late 2024.
But that accord allows for the exclusion of certain candidates under Venezuelan law, which would include opposition frontrunner Maria Corina Machado.
US officials speaking on the condition of anonymity on Wednesday evening, however, said they believed Caracas was planning to eventually allow such candidates to participate.
