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Heavy sanctions imposed by the Trump administration banning oil sales were lifted in October after Maduro promised to allow competitive presidential elections this summer. Since then, Venezuela’s president has arrested opposition members and barred major candidates from the race, prompting the State Department to announce in late January that it would not renew a six-month suspension of sanctions that was set to expire absent Maduro’s progress. . April 18th.
A U.S. Treasury Department “general permit” issued last year allows buyers around the world to purchase Venezuelan crude for the first time since President Trump’s maximum pressure policies effectively removed the oil from international markets, and the U.S. dollar It is now possible to pay with Ignoring U.S. sanctions, China became Venezuela’s main buyer, and Iran a major supplier of dilution and chemicals. Produces the country’s heavy oil.
After Maduro’s failure to implement his side of the deal, the regime wants to punish him while avoiding losing what it gained from the deal negotiated at the urging of Venezuela’s opposition.
In one proposal being considered, the Treasury Department would impose a new sanctions regime that would allow Venezuela to continue selling oil to international customers, but not against the U.S. dollar, the market’s main currency. That’s what it is.
Instead, payments to Venezuela will be made in the country’s currency, bolivars, and deposited directly with the central bank through debt relief payments. There are also barter arrangements where oil is exchanged for diluent, gasoline or diesel, said an adviser to an energy company involved in Venezuela’s oil sector, who spoke on condition of anonymity to protect client confidentiality.
That’s the “most likely” path to be taken, said a person familiar with the administration’s internal deliberations, who spoke on condition of anonymity to discuss the sensitive issue. A spokesperson for the National Security Council declined to comment.
Biden officials worry about policy headwinds Those who are perceived to have made concessions to authoritarian leaders must insist that new policies: It does not represent capitulation to the interests of the Maduro regime, which has repeatedly suppressed democratic opposition.
Biden began changing Trump’s policies by loosening regulations on Chevron in 2022. has long been a major producer in Venezuela, The oil produced there is sent to the United States.No additional restrictions are expected to apply to the company. That could happen if a broader general license is revoked, according to a U.S. government official who spoke on condition of anonymity under administrative rules.
Administration officials have begun negotiations with Maduro’s government at the request of Venezuelan opposition forces and businesses operating in Venezuela, but some influential lawmakers, particularly Florida Republican Sens. Rick Scott and Marco Rubio, have begun negotiations with Maduro’s government. This drew dissatisfaction from Mr. and Sen. Ted Cruz (Republican). -Texas).
Critics expressed doubts that sanctions relief would have the intended effect on Mr. Maduro.
“When we lifted the sanctions in the first place, we gave up influence. This was based on promises that everyone knew they wouldn’t honor,” said Eric Farnsworth, a Latin America expert at the United Nations Council’s Washington office. ” he said. He is a member of the Americas and the Society of the Americas and a former State Department official. “Are you now trying to impose sanctions again, and at what level?”
A return to Trump-era sanctions policies could upset key left-wing governments in the region, particularly Brazil and Colombia, which have struggled with immigration issues from neighboring Venezuela. India, an important partner of the United States, also It is a major importer of Venezuelan oil under its more generous current license.
“The worst that could happen is that we would be seen as accepting this bad policy inherited from the Trump administration,” said a person familiar with the matter. “Mr. Maduro will go into the July elections with all the restrictions in place, and he will put the blame on us. “Hurry to normalize,” they will view us as the aggressor and the regime as the victim.
The new measures proposed are: David L. Goldwyn, who served as the State Department’s special envoy and coordinator for international energy affairs during the Obama administration, said that providing replacement gas and other refined petroleum products for Venezuela’s power, agriculture, and gas “boosts the domestic economy.” “relief” is still possible. .
Francisco Monardi, a Venezuelan energy expert at Rice University, said existing licenses have had a limited positive impact on cash flow to Venezuela, and uncertainty surrounding the six-month limit has led to a decline in the flow of more money into the U.S. market. It said widespread access was not yet open. In Houston.
Including foreign companies It had begun exploring the possibility of a new deal with Venezuela, hoping for continued sanctions relief from the United States.But the termination of the license will be beneficial According to one oil industry business leader, the interests of China, Iran and Russia are Conditions of anonymity regarding current uncertain circumstances This is to protect the confidentiality of his business.
As a result of the sanction, the person “While China is buying oil at a discount, American consumers are being made to pay for their country’s bad foreign policy.”
Maduro’s government has banned María Colina Machado, the candidate of the main opposition coalition, from running in the presidential election, citing corruption allegations substantiated by the Maduro-appointed Supreme Court. Machado won the opposition primary by a landslide, but was unable to register as a candidate by last Monday’s deadline. The alternative she chose also blocked her registration. At the last minute, the coalition succeeded in registering former Venezuelan diplomat Edmundo González as a provisional candidate.
Now, the country’s historically divided opposition parties are trying to agree on a unified candidate that all factions can support.If the government allows it, this is what the opposition will do They have until April 20 to propose a replacement for González.
President Maduro’s electoral hurdles drew rare condemnation this week from the leaders of Colombia and Brazil, whose governments are generally seen as friendly to Venezuela’s leadership. than some other hemispheres of the hemisphere. Brazilian President Luiz Inacio Lula da Silva said Thursday there is no good reason for Maduro to ban opposition candidates from running.
Ana Vanessa Herrero in Caracas contributed to this report.
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