MIAMI (AP) — The Biden administration on Wednesday reimposed crushing oil sanctions on Venezuela, admonishing President Nicolás Maduro’s attempts to consolidate his rule just six months after the U.S. eased restrictions in a bid to support now fading hopes for a democratic opening in the OPEC nation.
A senior U.S. official, discussing the decision with reporters, said any U.S. company investing in Venezuela would have 45 days to wind down operations to avoid adding uncertainty to global energy markets. The official spoke on the condition of anonymity to discuss U.S. policy deliberations.
In October, the U.S. granted Maduro’s government relief from sanctions on its state-run oil, gas and mining sectors after it agreed to work with members of the opposition to hold a free and competitive presidential election this year.
While Maduro went on to schedule an election for July and invite international observers to monitor voting, his inner circle has used the ruling party’s total control over Venezuela’s institutions to undermine the agreement. Actions include blocking his main rival, ex lawmaker Maria Corina Machado, from registering her candidacy or that of a designated alternative. Numerous government critics have also been jailed over the past six months, including several of Machado’s aides.
Biden speaks with Netanyahu as Israelis appear closer to major Rafah offensive
France should bring rational voice to EU trade policy on China
GT Voice: US Treasury yield signals economy in ‘vicious cycle’
President's trip paves way for more outcomes
It's 20 years since the last ever episode of Friends. But from body
Top Chinese diplomat stresses China
A more inclusive path beneficial for multipolar world
3rd Belt and Road Forum will be a landmark event: Pakistani expert
Russia defends veto of UN resolution to prohibit nukes in outer space
Golden Week stress test for popular destinations
Robinhood Markets receives SEC notice for alleged securities violations at crypto unit
Commentary: Working together for enduring China