U.S. to ease sanctions on Venezuelan oil for freer presidential election

The Washington Post: The U.S. and the Venezuelan government have reached a tentative deal to ease American sanctions on Venezuela’s oil sector in exchange for a more transparent, internationally monitored presidential election in Venezuela by 2024. The agreement is set to be finalized in a meeting in Barbados between Venezuelan authorities and the U.S.-backed opposition. Venezuelan President Nicolás Maduro will also commit to lifting bans on opposition candidates and accepting international electoral observations. The U.S. will maintain the ability to reinstate sanctions if Maduro fails to uphold his end of the deal. However, the agreement does not include plans to unfreeze Venezuelan assets in the U.S. This development comes as Venezuela’s opposition parties prepare for a primary vote and days after the U.S. began easing restrictions on Chevron, a major U.S. oil company with assets in Venezuela.

The entire article can be read at the link https://www.washingtonpost.com/world/2023/10/16/venezuela-us-sanctions-deal/