The US has reimposed economic sanctions against a Venezuelan state-owned mining company and says it could go on to reimpose further sanctions on the country’s oil and gas sector after Venezuela’s Supreme Court barred main opposition candidate Maria Corina Machado from running for president last week.
The US Treasury on Monday revoked General License 43, which had authorized dealings with mining conglomerate CVG-Minerven. The Treasury said US companies have until February 13 to wind down transactions that were previously authorized by that license.
While US economic sanctions against the mining company are unlikely to cause significant damage to the Venezuelan economy, the US State Department has crucially signaled it intends to renew oil and gas sanctions from April 18, if there’s no progress between Venezuela’s authoritarian president Nicolas Maduro and the opposition “particularly on allowing all presidential candidates to compete in this year’s elections,” it said in a statement.
https://www.reuters.com/world/americas/us-easing-venezuela-oil-sanctions-response-election-deal-official-2023-10-18/ Also should be noted that these sanctions, left by Biden for three years, are the only mechanism for money to come into Venezuela. Oil is their only source of money. Maduro’s government is deeply despised by the US and western governments due to the nationalization of their oil and mining industries. Sanction oil sales, starve the people. Maduro’s government has ruled under genocidal sanctions and gets the blame for it. The US should let Venezuela breathe and eat.