Biden revives Venezuela oil sanctions

WASHINGTON (CN) — The Biden administration is reimposing sanctions on Venezuela’s oil and gas industry because it says President Nicolas Maduro hasn’t lived up to promises for free and fair elections this year.

The move shows Washington’s frustration with Maduro and represents a major stumbling block in President Joe Biden’s effort to renew diplomatic relations with Venezuela.

“We will continue to support Venezuelans’ aspirations for a more democratic, stable, and prosperous Venezuela,” State Department spokesperson Matt Miller said in a statement. “We and our partners in the international community urge Maduro to uphold all the commitments made under the electoral roadmap.”

As part of its efforts to improve relations, the Biden administration in October eased sanctions on the country’s oil and gas industries in exchange for Maduro’s commitment to work with the opposition toward fair conditions for the 2024 presidential election.

Specifically, the U.S. Treasury Department issued a license for Venezuela to sell its crude oil freely. But that license is set to expire Thursday, and rather than renew it, Washington is opening a 45-day window for companies to draw down their operations with Venezuela.

Without a general license, foreign partners would have to get U.S. approval to work with the state-run oil firm on a case-by-case basis.

Relations between the U.S. and Venezuela have deteriorated steadily over the past decade. The downward slide started when Maduro, a self-proclaimed socialist, was narrowly elected in 2013 after the death of longtime President Hugo Chavez.

Maduro was declared victor for a second six-year term in the 2018 election, but international leaders split on the legitimacy of the vote. Washington stopped recognizing Maduro as the rightful head of state in 2019 and has applied political and economic pressure to make him step down.

While senior administration officials acknowledged Wednesday that there has been some progress in the election atmosphere, they said Maduro’s government has fallen short in several areas.

In particular, they’ve been concerned about a “continued pattern of harassment” against opposition parties and civil society.

Election authorities have banned Maria Corina Machado, who handily won the opposition primary last year, from running in the general election. They’ve also blocked efforts to put forward a compromise candidate. 

Meanwhile, several opposition activists and politicians have been arrested in recent months.

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