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US to Reinstate Oil Sanctions on Venezuela Amid Concerns Over Maduro’s Failure to Ensure Fair Elections

The US government is moving to reintroduce oil sanctions on Venezuela, citing a failure by President Nicolás Maduro’s regime to hold free and fair elections. The Treasury Department will allow temporary sanctions relief for Venezuela’s oil and gas sector to expire this week and will not seek renewal. The Biden administration believes that Maduro’s government reneged on key parts of a deal last year that included the temporary easing of sanctions in exchange for promises of democratic reforms. Despite some progress, the State Department expressed concern over interference from Maduro’s representatives preventing the democratic opposition from registering their candidate of their choice and detaining political actors and civil society.

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