Latin America
The Dilemma of Oil Sanctions and Democratic Progress
The United States must consider its next steps, as the temporary license to ease restrictions on Venezuela’s oil sanction is set to expire on Thursday. The agreement's condition, which provides necessary breathing room for Venezuela's oil and gas sectors, would depend on President Nicolas Maduro making democratic progress by the upcoming election date of July 28.
U.S. Lifts Sanctions Against Venezuela In a Bid to Ensure 2024 Elections
On Wednesday, Oct. 18, the Biden administration announced the softening of its sanction on oil, gas, and gold exports from Venezuela. The deal came one day after Venezuela’s incumbent leadership met with its opposition and agreed to hold democratic presidential elections in 2024.