The Biden administration has signaled that it could reimpose oil sanctions on Venezuela on Thursday in response to what U.S. officials see as President Nicolas Maduro's failure to meet his commitments for free and fair elections this year.
Item 1 of 3 Venezuelan President Nicolas Maduro attends an event at the National Electoral Council in Caracas, Venezuela, December 4, 2023. REUTERS/Leonardo Fernandez Viloria/File PhotoVenezuelan President Nicolas Maduro attends an event at the National Electoral Council in Caracas, Venezuela, December 4, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo
But the Biden administration is expected to stop short of a full return to the "maximum pressure" campaign waged under former U.S. President Donald Trump, according to people familiar with the matter. Failure to renew the current license would not rule out the possibility that the U.S. could at some point issue a new version to replace it if Maduro starts to give ground on electoral commitments.
The Biden administration initially re-engaged diplomatically with Maduro when the U.S. was looking for ways to get more oil on world markets to offset the rise in crude prices from Western sanctions imposed on Russia over its 2022 invasion of Ukraine. Those contacts led to a deal for easing some of the harsh Trump-era sanctions on Caracas.
DIP ENER ENFF ENG GEN OILG POL PXP TRD TRDEMB VOTE VOTP AMERS US VE NAMER EMRG LATAM SAMER TOPNWS PACKAGE:US-TOP-NEWS PACKAGE:WORLD-NEWS REPI:OPEC COM CRU ENR INTAG NRG OILI OILI08 OPEC TOPCMB WASH ENERGY
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