The White House will restart sanctions on Venezuela's oil and gas industry that were put on hold six months ago to encourage President Nicolas Maduro to support free and fair elections in his country.
View of the Jose Antonio Anzoategui oil complex in Barcelona, Anzoategui State, Venezuela, July 3, 2022. The Biden administration on Saturday, Nov. 26, 2022, eased some oil sanctions on Venezuela in an effort to support newly restarted negotiations between President …‘s oil and gas industry that were put on hold six months ago to encourage President Nicolas Maduro to support free and fair elections in his country.
The temporary sanctions waiver, which expires on Thursday, allowed Mr. Maduro’s government to export crude oil to the U.S.officials said Wednesday that Caracas has made some progress on elections, including updating the country’s electoral registry and initiating a process to allow international election observers into the country. But much more needs to be done, The U.S. granted the six-month waiver, known as General License 44, in October after representatives for Mr. Maduro signed an agreement inAlthough she won the opposition primaries last year, Ms. Machado can’t run because Mr. Maduro’s government has barred her from holding public office. Her replacement, 80-year-old academic Corina Yoris, also was unable to register her candidacy. “Although the Venezuelan authorities have met some key commitments, they’ve also fallen short in several areas: the disqualification of candidates and parties on technicalities and what we see as a continued pattern of harassment and repression against opposition figures and civil society,” ain a bid to offset a rise in crude oil prices. That rise was partly driven by sanctions placed on Russia after it invaded Ukraine in February 2022.will need to be wound down by May 31,” a senior administration official said. “Any new activity that was previously covered by General License 44 will no longer be allowed.”“Nothing is going to stop us because we are no one’s colony,” he said on X. “The empire trying to do us harm does double damage but our country has emerged stronger.” The Treasury Department’s Office of Foreign Assets Control — which administers government sanctions — issued General License 44A. It will allow companies until May 31 to wind down any of their operations that were part of GL 44. Businesses will still be able to apply for more narrowly focused export licenses related to “If folks took on any new activity that needed General License 44 to be compliant with our sanctions, it’s that activity that we would expect to be wound down,” senior administration officials said. “History has proven time and time again that appeasing dictators does not work,” they wrote in the letter. “We must not cede American leverage by lifting U.S. sanctions while the Maduro government deliberately disregards its obligations.”
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