WASHINGTON — The United States has agreed to temporarily suspend some sanctions on Venezuela’s oil, gas, and gold sectors in response to an agreement reached between Venezuela’s government and a faction of its opposition. The agreement focuses on establishing basic conditions for the next presidential election.

A Step Towards Collaboration

President Nicolás Maduro’s administration and the Unitary Platform recently came together, paving the way for collaboration and unity. The timing of this agreement is significant as the opposition prepares for a primary to select its candidate for the 2024 presidential election.

Remaining Restrictions and Vigilance

While these specific sanctions have been lifted, it is important to note that the ban on trading in the primary Venezuelan bond market remains in effect according to the Treasury. Moreover, Brian E. Nelson, Treasury’s under secretary for terrorism and financial intelligence, emphasized that the United States will continue to hold bad actors accountable and maintain all other existing restrictions.

Commitment and Accountability

The U.S. Secretary of State, Antony Blinken, reaffirmed the commitment of both the United States and the international community to closely monitor the implementation of the electoral roadmap. He made it clear that if commitments under the electoral roadmap and regarding political prisoners are not met, the U.S. government will take appropriate action.

In conclusion, the temporary suspension of sanctions on Venezuela’s oil, gas, and gold sectors signals a step towards collaboration between the government and opposition factions. While cautious optimism surrounds this agreement, the United States remains vigilant in holding all parties accountable for their commitments while supporting the Venezuelan people and their democratic aspirations.

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