Venezuela, US Eases Sanctions. Maduro: “Let’s Turn The Page”

The USA has eased sanctions on the Venezuelan oil sector. It was Washington’s response to the agreement reached between the government and opposition parties for the 2024 elections and represents a step forward by the Biden administration towards Maduro, a clear departure from the Trump administration’s “maximum pressure” policy.

The US Treasury Department has issued a license allowing Venezuela, an OPEC member under heavy sanctions since 2019, to produce and export oil without restrictions for the next six months. Similar measures have been taken regarding gas and gold.

Venezuelan President Nicolas Maduro said he is ready to restore relations with the United States. “Let’s turn the page, let’s restore relations of respect and cooperation,” Maduro said. “Venezuela, having these agreements and decisions made, is fully returning to the oil and gas market, gradually recovering on the market. To the United States I say: we have always wanted and still want the relations based on respect and differences.”

US Secretary of State Antony Blinken also welcomed the Venezuelan leader’s pre-election concessions. However, he noted, Reuters reports, that Washington has given him until the end of November to “begin lifting bans on opposition presidential candidates and begin releasing political prisoners and unjustly detained Americans.”