US to Reimpose Venezuela Sanctions

The U.S. is reversing the sanctions relief it gave to Venezuela last year after finding the Nicolas Maduro-led regime has failed to take steps to hold free and fair elections, which has included barring the opposition candidate from participating in the elections and arresting members of the opposition party.

The State Department this week said the U.S. on Feb. 13 will revoke General License 43, a Treasury Department authorization that allows certain transactions with Minerven, Venezuela's state-owned gold mining company. The agency also plans to allow General License 44 to expire April 18 -- “absent progress” by the Maduro regime to hold free elections -- which had authorized certain transactions with Petroleos de Venezuela, the country’s state-owned energy company.

The U.S. offered the sanctions relief for Venezuela's oil, gas and gold sectors in October after the country's government and opposition formally agreed to work together on conditions for the next presidential election (see 2310180070).

National Security Council spokesperson John Kirby said the Maduro regime can still work with the U.S. and take steps to hold the elections. “They’ve got until April,” Kirby told reporters Jan. 29. “They need to make the right decisions here and allow opposition members to run for office and release the political prisoners that they’re holding right now.” If the Maduro regime doesn't reverse course, Kirby said: "We have options available to us. I’m not going to preview any of those at this time. But we certainly have options, with respect to sanctions and that kind of thing that we could take."

The State Department said it “remains strongly committed to supporting dialogue” between the Maduro regime and the opposition party and plans to “continue to work with the international community and all peaceful democratic actors across the political spectrum” to find a solution.

The announcement comes one day after lawmakers urged the Biden administration to reimpose the sanctions after Venezuela’s supreme court barred opposition leader Maria Corina Machado from this year’s presidential election (see 2401290048).