WASHINGTON: The United States said on Wednesday it would reimpose sanctions on Venezuela’s vital oil industry after what it called a continued crackdown on dissent by the government of President Nicolas Maduro.
Joe Biden’s administration suspended some sanctions after Maduro’s government and rebel groups agreed in Barbados last October to hold a free and fair vote under the supervision of international observers in 2024.
But the thaw ended with President Maduro’s opponents no longer allowed to challenge him in elections and the United States saying Caracas could not make progress toward an April 18 deadline.
State Department spokesman Matthew Miller in a statement said: “We are concerned that Maduro and his representatives prevented the democratic opposition from registering the candidate of their choice, harassed and intimidated political opponents, and unjustly detained numerous political actors and civil society members.”
He once again asked President Maduro to allow all candidates and political parties to participate in the election process and to release all political prisoners without restrictions or delays.
Oil companies must stop operating by May 31 to comply with the sanctions, Miller said.
However, the US State Department said it would “continue to evaluate the sanctions policy” based on the Maduro government’s actions ahead of the election.
Venezuela has the world’s largest proven oil reserves, but years of mismanagement and crippling sanctions have severely reduced production.
Caracas has vowed that its oil sector will continue to operate regardless of US policies.
The US government has already imposed sanctions on the gold mining sector.
