EconomyLens.com
No Result
View All Result
Saturday, April 18, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US set to reimpose Venezuela oil sanctions over election disqualifications

Andrew Murphy by Andrew Murphy
January 30, 2024
in Economy
Reading Time: 6 mins read
A A
0
20
SHARES
245
VIEWS
Share on FacebookShare on Twitter

Washington (AFP) – The United States warned Tuesday it will reimpose sanctions on Venezuela’s oil and gas sector, relaxed under a reconciliation deal, after opponents to President Nicolas Maduro were barred from running against him.

The State Department issued a deadline to end a license that allowed US dealings with Venezuela’s key money-making sector, saying Maduro was violating an agreement with the opposition reached in Barbados in October.

“Absent progress between Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year’s election, the United States will not renew the license when it expires on April 18, 2024,” State Department spokesman Matthew Miller said in a statement.

Related

Iran says final deal still far off as Hormuz Strait shuttered

Trade ships hit in Hormuz as Iran recloses strait

US extends sanctions waiver on purchases of Russian oil

Trump tells AFP Iran deal close, ‘no sticking points’ left

Shippers eye Iran Hormuz reopening with wariness

The United States earlier said it was immediately winding down another license that allowed operations by the Venezuelan state-owned gold mining company, Minerven.

“The United States remains strongly committed to supporting dialogue between the parties and to the aspirations of the Venezuelan people for a democratic future,” Miller said.

“We will continue to work with the international community and all peaceful democratic actors across the political spectrum in Venezuela and leverage mechanisms at our disposal to encourage a return to the principles in the Barbados agreement,” he said.

Venezuela’s Supreme Court, loyal to Maduro, on Friday upheld a 15-year ban on holding public office against the president’s main opponent in elections due this year, Maria Corina Machado.

The court also confirmed the ineligibility of a possible opposition stand-in — two-time presidential candidate Henrique Capriles. 

– Maduro’s staying power –

The United States is a longtime foe of the leftist Maduro, who has presided over a crumbling economy that has sent millions fleeing Venezuela.

In early 2019, the United States under then president Donald Trump declared Maduro to be illegitimate after concerns about a previous election, with most Western and Latin American countries switching recognition to then opposition leader Juan Guaido.

But years of sanctions and other pressure failed to dislodge Maduro, who enjoys support from a political patronage system, the military and Cuba, Russia and China.

President Joe Biden’s administration, after initially keeping Trump’s sanctions approach, has shifted gears after seeing no end in sight to Maduro and after Venezuela’s two key neighbors, Colombia and Brazil, elected left-wing leaders who sought a more conciliatory approach.

After the Barbados agreement, the United States gave the green light to Chevron to do business with Venezuela and arranged a prisoner swap with Maduro that freed Americans.

US officials privately acknowledged that they saw limited prospects for Maduro to allow a vote in which he could lose power.Machado, after the court decision, accused Maduro and his “criminal system” of seeking “fraudulent elections.”

Maduro last week made claims of plans to assassinate him and said that the Barbados agreements are “mortally wounded.”

In Washington, the Republican Party has denounced Biden over Venezuela but even members of the president’s Democratic Party have called on him to tighten the screws on Maduro after the disqualifications.

In a joint statement Monday, three leading Democratic senators — Ben Cardin, Dick Durbin and Tim Kaine — called on the United States to reimpose sanctions “until a clean election is assured.”

Tags: oil sectorsanctionsVenezuela
Share8Tweet5Share1Pin2Send
Previous Post

N. Ireland deal looks to end two-year political deadlock

Next Post

General Motors eyes strong 2024 as earnings top estimates

Andrew Murphy

Andrew Murphy

Related Posts

Economy

Trump signals Iran deal near, hails ‘brilliant day for world’

April 17, 2026
Economy

Trump say Iran blockade continues despite Hormuz reopening

April 17, 2026
Economy

First loaded Iranian oil tankers exit Gulf since US blockade: Kpler

April 18, 2026
Economy

IMF, World Bank say restoring relations with Venezuela, recognizing interim government

April 16, 2026
Economy

IMF warns of war’s human impact far from Middle East

April 17, 2026
Economy

France finance minister says Hormuz must open, G7 ready to mitigate war fallout

April 16, 2026
Next Post

General Motors eyes strong 2024 as earnings top estimates

Stocks diverge as investors track Fed meeting, eurozone data

Niger newspapers feel force of post-coup sanctions

Farmer discontent spreads in EU as France seeks to quell protests

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

97

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

AI ‘agent’ fever comes with lurking security threats

April 18, 2026

How France fell for reimagined 19th-century workers’ canteens

April 18, 2026

Branded pop-up events take center stage at Coachella

April 18, 2026

Strait of Hormuz to stay closed until port blockade lifts, Iran says

April 18, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.