US Plans to Ease Sanctions on Venezuelan Oil Sector

The Biden administration and the government of Venezuelan President Nicolás Maduro have agreed to a deal to ease US sanctions on Venezuela’s oil industry, while Venezuela would allow competitive and international monitored presidential elections next year according to the Washington Post.

• The relief of sanctions will be announced after Maduro’s government and the opposition sign an agreement on freer votes next year, sources said. The agreement is expected to be announced on Tuesday during a meeting in Barbados.
• Under the agreement, Maduro would lift bans on opposition candidates running during next year’s election, sources said.
• At the same time, the US is planning to lift certain oil related sanctions on Venezuela, but no details have been published yet.