Source: AFP
The United States announced on Wednesday it would lift sanctions on Venezuela’s critical oil industry after the government of President Nicolas Maduro continued its crackdown on its opponents.
President Joe Biden’s administration suspended some sanctions after Maduro’s government and the opposition agreed in Barbados last October to hold a free and fair vote in 2024 under the watchful eye of international observers.
But the thaw ended when Maduro’s opponents were barred from running against him in elections, and the United States said Caracas had now failed to make progress before an April 18 deadline.
“We are concerned that Maduro and his proxies have prevented the democratic opposition from registering their candidate of choice, harassed and intimidated political opponents, and unjustly arrested numerous political actors and members of civil society,” State Department spokesman Matthew Miller said.
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“We call again on Maduro to allow all candidates and parties to participate in the electoral process and to release all political prisoners without restriction or delay.”
Oil companies will have until May 31 to comply with the sanctions, Miller said.
Senior US government officials described an “ongoing pattern of harassment and repression against opposition figures”.
But Washington will “continue to evaluate sanctions policy” based on the Maduro government’s actions ahead of the election, the State Department said.
Venezuela has the world’s largest proven oil reserves, but production has plummeted after years of mismanagement and crushing sanctions.
Caracas has vowed that its oil sector will continue to operate regardless of US policy.
“We will not stop, with or without permission,” Oil Minister Pedro Telechea told reporters before Washington’s announcement.
The sanctions move is not without risk for Biden as he mounts his own re-election bid this year.
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Venezuelan authorities have previously threatened to crack down on Biden in the sensitive area of immigration. More than seven million Venezuelans have fled in the past decade, with many coming to the United States.
Caracas has previously warned it would cancel migrant repatriation flights that began under the October deal if Washington continues its “economic aggression.”
Sanctions could also hit oil prices as Americans face rising costs and rising inflation, and polls show US voters are not buying Biden’s sunny messages on the economy.
Tension for Maduro
Source: AFP
The Barbados deal collapsed after pro-regime state institutions barred Maduro’s main challenger, Maria Corina Machado, and a proxy from running in the July 28 election.
Maduro, the anointed heir to the late anti-US leader Hugo Chavez, will seek a third six-year term after 11 years in power marked by sanctions, economic collapse and accusations of widespread repression.
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Dozens of countries, including the United States, rejected the results of the 2018 election won by Maduro and were boycotted by the opposition.
Most Western and Latin American countries switched recognition to then-opposition leader Juan Guaido.
But years of sanctions and other pressures have failed to dislodge Maduro, who enjoys support from a political patronage system, the military and from Cuba, Russia and China.
The Biden administration, after initially sticking with predecessor Donald Trump’s sanctions approach, has shifted gears.
In November, Washington gave the green light to US oil giant Chevron to operate in Venezuela, and just before Christmas, Venezuela released 10 American prisoners in exchange for the United States freeing a Maduro confidant.
Washington has already reimposed sanctions on gold mining.
On Wednesday, Tellechea said Venezuela would not “stop producing, trading, exploiting our reserves,” adding that “multinational companies will continue to come.”
Source: AFP