Venezuela’s presidential elections on July 28 may have helped the South American nation to avoid U.S. sanctions – for now. According to a Wall Street Journal report, the Biden administration is going to prolong the waiver on the Venezuela oil sanctions, due to concerns that the move may spike gasoline prices for consumers in the United States.
The White House is also worried that reimposing sanctions on Venezuela may lead to increased migration – and further exacerbate the border crisis America is already struggling with.
However, former officials and diplomats have urged U.S. State Secretary Antony Blinken ‘to revoke General License 44, which authorizes oil and gas transactions in Venezuela,’ SP Global reports.
In an April 3 letter, Latin American politics experts asked Blinken to reinstate the sanctions on Venezuela if the country’s government fails to fulfill its promise for democratic elections.
“We believe that capitulating to the regime’s arbitrary ban on the candidacy of the opposition’s singular standard-bearer, Maria Corina Machado, would deal a fatal setback to democratic prospects in Venezuela,” says the letter.
“Therefore, we ask you to state publicly that Maria Corina Machado’s rightful participation in the election is a condition to the United States extending sanctions relief or recognizing the electoral results.”
The sanctions come after Venezuelan president Nicolás Maduro broke the Barbados Agreements, a deal Maduro made with the Venezuelan opposition for fair and democratic elections.
Machado, who won a unified opposition primary in October 2023 with a resounding victory, was barred by Maduro from running in the 2024 elections in March. The government rejected Corina Yoris, Machado’s hand-selected successor when she tried to register as a candidate in March. In a contested election, pollsters predict that both contenders will likely defeat Maduro, S&P Global added.
According to the U.S. State Department, the action taken by the Venezuelan National Electoral Council “runs counter to competitive and inclusive elections that the Venezuelan people and international community will view as legitimate.” According to press secretary for the White House Karine Jean-Pierre, the administration is “deeply concerned.”
