English 
Spanish 
3 min read
0 comments
In 2023, the government of the South American country faces sanctions on the oil sector due to the re-election of Nicolás Maduro and his representatives.
Sanctions imposed by the United States on Venezuela's oil sector will be reincorporated if the country's government does not allow the candidacy of an important opposition representative for President, a senior White House official said on Monday (29).
Joe Biden's government will reinstate penalties related to the energy sector from April, after six months of suspension, if Maria Corina Machado and other opposition figures are not allowed to run against President Nicolás Maduro, the source highlighted on condition of anonymity. Source: clickpetroleoegas.
Sanctions and Punishments for the Opposition Candidate
A Supreme Court of Venezuela maintained, on Friday (26), the ban that prevents Maria Machado from registering for elections scheduled for the second half of 2024, arguing that it supports US sanctions, has engaged in corruption and lost money associated with Venezuela's foreign assets.
- No soy or sugarcane! Brazil's largest exported product is oil, to the delight of Petrobras and other companies in the sector.
- From pre-salt to the largest gas reserve: Petrobras discovers 6 trillion cubic feet of gas in Colombia and leads global energy revolution
- The impressive numbers from the 10 oil platforms with the HIGHEST production in October: More than 2 million barrels per day in the spotlight in the pre-salt!
- Brazil to auction 78 MILLION barrels of oil! China took the majority in the last auction
Reinstatement of Sanctions by the United States
In October 2023, the United States conditioned the lifting of sanctions against Venezuela on the release of prisoners by Nicolás Maduro's government, including 'unjustly detained' Americans, and progress towards ending bans on a number of opposition members in the country. South American.
In December, Venezuela released 24 of its own citizens and 10 Americans in exchange for the freedom of a Maduro ally and the extradition of a Malaysian businessman wanted by the US.
However, the Judicial decision against Maria Machado and the recent arrests of opposition members led the US to threaten the reinstatement of sanctions.
Suspension of General License 44 by the US Government
'Unless Maduro and his representatives in Venezuela can get back on track, specifically with regards to allowing all presidential candidates to run in this year's elections, we will not be in a position to renew General License 44, which provides relief to Venezuela's oil and gas sector, when the renewal period comes in April,' said the White House official.
A authority further stated that the US was also considering imposing other measures to punish the Venezuelan government, but the possible actions were not specified.
Election Date and Machado Declaration
'They have until spring to honor their commitments. They have decisions that they need to take before we evaluate what decisions we will make', he added.
Machado, a 56-year-old industrial engineer who won the opposition primaries by a landslide in October, stressed this Monday (29) that she will not step aside in favor of a replacement, despite the court decision.
'There is no retreat. We have one mandate and we will complete it', said Machado at a press conference in Caracas. 'A replacement candidate is the plan of those who don't want change and our plan is change, period', he concluded.
She also classified the decision as a 'judicial crime', adding that there will still be many obstacles to overcome, but that there will be elections this year.
Source: CNN Brazil
