The Joe Biden administration eased some sanctions on Venezuela’s energy and gold sectors after President Nicolas Maduro agreed to hold elections next year. At the same time, Washington resumed deporting Venezuelan migrants to Caracas.
On Wednesday, the Treasury announced the easing of the economic war on Venezuela. “The United States welcomes the signing of an electoral roadmap agreement between the Unitary Platform and Maduro representatives,” the press release said. “Consistent with U.S. sanctions policy, in response to these democratic developments, the US Department of the Treasury has issued General Licenses authorizing transactions involving Venezuela’s oil and gas sector and gold sector, as well as removing the ban on secondary trading.”
Under the Donald Trump administration, Washington backed a coup by Juan Guaido against Maduro. After Guaido failed to gain popular support in Venezuela, the US enacted sweeping sanctions on Caracas with the goal of causing the Maduro administration to collapse and destroy the economy.
The sanctions did not threaten Maduro’s government but did cause widespread suffering in Venezuela. The American economic war is estimated to have contributed to tens of thousands of Venezuelan deaths.
The Biden administration has now “Issued a six-month general license temporarily authorizing transactions involving the oil and gas sector…Issued a second general license authorizing dealings with the Venezuelan state-owned gold mining company…[and] Amended two relevant licenses to remove the secondary trading ban on certain Venezuelan sovereign bonds,” the Treasury explained.
The State Department explained that all other sanctions will remain in place.
Just before lifting the sanctions, the White House resumed deportations to Venezuela. A flight with over 100 migrants arrived in Caracas on Wednesday. The next round of deportations is planned for Saturday.
