In response to what it says are democratic changes, the U.S. Treasury Department has issued general licenses for transactions related to Venezuela’s oil and gas and gold sectors and is lifting a ban on trading debt securities in the secondary market, according to a statement issued Wednesday by Treasury Undersecretary for Terrorism Affairs Brian Nelson (Brian Nelson) statement.
However, it also states that these permits can be changed or revoked at any time if the election deal fails.
“Let’s turn a new page, restore a relationship of respect and cooperation (…) this is my message to those in power and to the United States government,” said Venezuelan President Nicolas Maduro and called for a final end to sanctions.
US Secretary of State Antony Blinken said that the United States, in turn, warned Venezuela that by the end of November it must set a specific deadline and expedite the process of returning all candidates to the electoral fray.
“Everyone who wants to run for president should be given that opportunity,” he said in a statement.
The agreement between Washington and Caracas comes just a day after the Venezuelan government and the opposition in Barbados reached an agreement brokered by Norway to hold elections in late 2024.
But under Venezuelan law, the deal allows certain candidates, including opposition leader Maria Corina Machado, to be barred from running.
Still, U.S. officials, who spoke on condition of anonymity Wednesday night, said they believe Caracas eventually plans to allow such candidates to run. According to A. Blinken, failure to comply with the terms of this agreement would force the United States to withdraw its actions.
Later on the same day, five imprisoned opposition figures were released, Gerardo Blyde, who represents the opposition in negotiations with the government, announced on the social network.
Among them were journalist Roland Carreno and former lawmaker Juan Requesens, who was jailed in 2018 after an attack on Maduro.
The U.S.-Venezuelan effort has included other cross-border measures, with a charter flight carrying about 130 Venezuelan migrants arriving from Texas on Wednesday at Simón Bolívar International Airport in Caracas. This is the first such deportation flight since the agreement between the two countries was reached earlier this month.
The agreement provides for the orderly, safe and legal repatriation of undocumented Venezuelan migrants, who until now have been deported in small numbers on commercial flights alongside regular passengers.
Oil, gas, gold
Specifically, the easing of sanctions means that the U.S. government is once again allowing half-yearly purchases of Venezuelan oil and gas. The authorization can only be extended, it said, if Venezuela fulfills its obligations under the electoral plan and other obligations regarding unlawful detention.
As for the gold sector, no deadline has been set, and the Treasury Department has said it is seeking to reduce black market trading.
Washington is also allowing trading of Venezuelan debt securities to resume in the secondary market, although a ban on the primary market — the country’s government’s newly issued debt securities — remains in place.
Markets eagerly awaited the easing of sanctions on Venezuelan oil, so despite the threat of a war between Israel and Hamas and an escalation in the Middle East, the price of a barrel fell.
According to the text of the agreement, the exact date of the elections will be determined by the country’s National Electoral Council.
After a break of almost a year, the two sides have resumed talks to end Venezuela’s political and economic crisis.
The opposition, backed by several countries including the United States, did not recognize Maduro’s re-election in 2018 in a vote widely seen as fraudulent.
The following year, Washington tightened sanctions on Caracas, which were first imposed in 2015 over a brutal crackdown on anti-government protesters.
But the energy crisis sparked by Russia’s war in Ukraine has renewed global efforts to resolve the crisis in Venezuela, which has the world’s largest oil reserves.
Last year, US delegates traveled to Caracas to meet Maduro, although Washington does not recognize him as the legitimate leader.
After initial talks between the government and the opposition, Washington granted US energy giant Chevron a six-month license.
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#ease #oil #gas #sanctions #Venezuela #election #deal
**Interview with Dr. Maria Salazar, Latin American Policy Expert**
**Interviewer:** Thank you for joining us today, Dr. Salazar. There have been recent developments regarding U.S. sanctions on Venezuela, particularly with the easing of restrictions on the oil and gas sector. What are your thoughts on this shift?
**Dr. Salazar:** Thank you for having me. The easing of sanctions is a significant move, especially against the backdrop of the ongoing humanitarian crisis in Venezuela. The U.S. seems to be responding to some form of political engagement from Caracas, especially with the upcoming elections in 2024. It signals a willingness to negotiate, but it’s essential to view this cautiously.
**Interviewer:** Venezuelan President Nicolas Maduro called for a complete end to sanctions. How do you think his government is positioning itself with these recent changes?
**Dr. Salazar:** Maduro is trying to leverage the current situation to regain international legitimacy and improve his standing domestically. By advocating for the lifting of sanctions, he aims to restore economic stability and address the dire humanitarian conditions that have worsened under these sanctions. However, the insistence on electoral reform from the U.S. complicates this narrative.
**Interviewer:** U.S. Secretary of State Antony Blinken mentioned a specific deadline for returning candidates to the electoral fray. How critical do you think this is for future relations between the U.S. and Venezuela?
**Dr. Salazar:** It’s absolutely critical. The U.S. is emphasizing democratic processes as a condition for continuing to ease sanctions, which means that any backsliding on electoral reforms or excluding essential candidates could lead the U.S. to reinstate sanctions. Washington is trying to balance diplomatic engagement with accountability.
**Interviewer:** The agreement includes discussions around the repatriation of Venezuelan migrants. What implications do you think this has for U.S.-Venezuelan relations?
**Dr. Salazar:** Humanitarian measures like the safe repatriation of migrants can be a confidence-building step between the two countries. It indicates that the U.S. is willing to take actions that acknowledge Venezuela’s situation while still maintaining a level of oversight regarding democratic progress.
**Interviewer:** Lastly, considering the broader context, how do you see the relationship evolving between the two nations in the coming months?
**Dr. Salazar:** It’s a precarious balancing act. While the easing of sanctions and potential economic relief can foster dialogue, it is contingent on Venezuela’s commitment to genuine democratic reforms. Should these conditions be met, we may see a thaw in relations, but the risk remains that any failure to comply could lead to renewed tensions.
**Interviewer:** Thank you for your insights, Dr. Salazar. It certainly seems like the dynamics between the U.S. and Venezuela are changing, and your perspective adds valuable clarity to these complex issues.
**Dr. Salazar:** Thank you, it was a pleasure to discuss these important developments.