Biden Admin Suspends Oil, Gas Sanctions on Venezuela After Election Deal

Venezuela has been under significant sanctions imposed under former President Donald Trump since 2019.
Biden Admin Suspends Oil, Gas Sanctions on Venezuela After Election Deal
Venezuelan President Nicolás Maduro casts his vote at a polling station in the Simon Rodriguez school in Fuerte Tiuna, Caracas, Venezuela, on Dec. 6, 2020 during the country's legislative elections. Yuri Cortez/AFP via Getty Images
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The Biden administration is easing multiple oil and gas sanctions on Venezuela after the nation’s socialist government and opposition agreed to abide by certain measures as part of efforts to ensure democratic elections next year, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced on Oct. 18.

“The United States welcomes the signing of an electoral roadmap agreement between the Unitary Platform and [Venezuelan leader Nicolás] Maduro’s representatives,” Brian Nelson, the Treasury Department’s undersecretary for terrorism and financial intelligence, said in a statement announcing the partial easing of the sanctions.

Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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