WASHINGTON/HOUSTON (Reuters) -The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro’s failure to meet his election commitments. Just hours before the deadline, the U.S. Treasury Department announced on its website that it had issued a replacement license giving companies 45 days to “wind down” their business and transactions in the OPEC country's oil and gas sector. Washington had repeatedly threatened in recent months to reinstate energy sanctions unless Maduro made good on his promises that led to partial U.S. sanctions relief from October, following an election deal reached between the government and the Venezuelan opposition.
  • PugJesus@lemmy.worldEnglish
    111·
    1 year ago

    As it turns out, when you pinky-promise to have free elections in exchange for lifting sanctions, and then walk that back the moment it looks politically inconvenient, the sanctions come back down. What a shocker!

    • WhatsThePoint@lemmy.worldEnglish
      92·
      1 year ago

      The US supports many regimes that don’t have free elections. I think it has more to do with their nationalization of resources so the rich can’t get richer off that oil like the middle east.

      • PugJesus@lemmy.worldEnglish
        51·
        1 year ago

        Jesus Christ. Please look into the timeline of US sanctions on Venezuela in comparison to the timeline of nationalization of Venezuelan oil and international support for pressure on the current regime.