Venezuela Praises ‘Progressive’ Sanctions Removal as US Treasury Issues Temporary Licenses
VenezuelanalysisOct 19, 2023
US Lifts Venezuela Oil Sanctions for Six Months
The Facts
On Wednesday, the Biden administration announced the lifting of an array of sanctions on Venezuela's oil and gas sector, allowing the country to temporarily produce and export the resources without restrictions.
The announcement follows the Venezuelan government and the US-backed opposition's decision to hold presidential elections in the second half of 2024 following the resumption of talks after a nearly year-long hiatus.
The Spin
Establishment-critical narrative
The lifting of key US sanctions is a significant success for the Maduro government and the sovereignty of Venezuelans. After years of failed attempts to destabilize the country, Washington has finally come to its senses, partly due to the US migration crisis and rising global energy costs. However, while easing economic sanctions aimed at paralyzing the country's economy is a significant first step, the Venezuelan people are demanding their complete removal. Caracas will continue to fight for Venezuela's right to a self-determined future.
Pro-establishment narrative
That the US has eased sanctions on Venezuela due to negotiations with Caracas is an intelligent move by the Biden administration. Washington's offer was crucial in getting the Maduro government to agree with the opposition on a roadmap for elections and releasing wrongfully detained US citizens. If Caracas wants to avoid the reimposition of sanctions, it must now ensure fair and competitive elections. The US will closely monitor developments and continue to advocate for human rights and democracy in Venezuela.
Nerd narrative
There's a 40% chance that there will be a civil war in Venezuela before 2050, according to the Metaculus prediction community.