U.S. eases sanctions on Venezuelan oil following election deal

Name: WORLD
Price range: $

Venezuela’s government and the opposition party on Oct. 17 formally agreed to work together to create a plan for the next presidential election in 2024. On Wednesday, the Biden administration eased some sanctions on the country’s oil and gas sectors. The agreement allows international observers to monitor the election but stops short of reinstating opposition candidates barred from running for office. The United States has called on Venezuelan President Nicolás Maduro to lift the candidate bans and release political prisoners.

How long have the sanctions been in place? The Trump administration imposed the sanctions in 2019 after Maduro’s 2018 reelection. The United States called the election unfair. The sanctions banned state-run oil company PDVSA from exporting to some markets.

Dig deeper: From the archives, listen to Sarah Schweinsberg’s report about sanctions on Venezuela and Nicaragua.

Lauren Canterberry

Lauren Canterberry is a reporter for WORLD. She graduated from the World Journalism Institute and the University of Georgia with a degree in journalism, both in 2017. She worked as a local reporter in Texas and now lives in Georgia with her husband.