US to ease oil sanctions on Venezuela in election deal

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US to ease oil sanctions on Venezuela in election deal

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The United States is easing sanctions on the Venezuelan oil and gas sector after the government agreed with opposition figures to hold elections next year.

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The electoral deal between Venezuela's government and the US-backed opposition focuses on electoral guarantees for an internationally monitored vote scheduled for the second half of 2024.
Venezuelan electoral deal falls short of some US expectations, as it does not address the bans on opposition candidates or the release of political prisoners.
The relief granted is contingent on Venezuela's compliance with the terms of the electoral deal, and the US Treasury Department reserves the right to modify or revoke it.
As part of the sanctions relief, the US Department of the Treasury has issued General Licenses that permit transactions involving Venezuela's oil and gas sector, as well as its gold sector. Additionally, the ban on secondary trading has been lifted.
The Biden administration, in contrast to the previous "maximum pressure" approach, is shifting towards increased engagement with Venezuela, marking a significant change in US policy towards the country.
The United States has announced temporary limited relief to sanctions on Venezuela's oil and gas sector in response to an electoral deal between the Venezuelan government and the opposition for a 2024 vote, as confirmed by the US Treasury Department.
Venezuela, which holds the world's largest oil reserves, has attracted increased international attention amid the Ukraine crisis and resulting energy problems, prompting efforts to break the political deadlock in the country .

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10

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18

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2023

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12

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00

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Deutsche Welle

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US eases sanctions on Venezuela

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https://www.dw.com/en/us-to-ease-oil-sanctions-on-venezuela-in-election-deal/a-67143217

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US eases sanctions on Venezuela

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Venezuelan electoral deal falls short of some US expectations, as it does not address the bans on opposition candidates or the release of political prisoners.

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The relief granted is contingent on Venezuela's compliance with the terms of the electoral deal, and the US Treasury Department reserves the right to modify or revoke it.

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