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Venezuelan Government and Opposition Meet to discuss Election Date

OIL

Venezuela’s government and opposition resumed talks with opposition members to discuss a data for presidential elections, according to Bloomberg.

  • The parties gathered Feb. 19 in Caracas. The group last met in October.
  • Both parties agreed to set a date for the election in H2 2024, but the government began a parallel consultation several weeks ago.
  • The discussions are likely a sign of the government looking to take minimum steps necessary to prevent the US following through on its threat to let the current deal expire in April.
  • In that scenario, sanctions would return, hampering the country’s output and preventing any investment from international energy companies.
  • Holding free elections, in addition to allowing the opposition to freely choose its presidential candidate, were stipulations in the deal.
  • However, Maduro recently ratified a ban on opposition leader María Corina Machado.

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