U.S. Lifts Sanctions On Venezuela's Oil And Gold

The United States has partially lifted sanctions against the Nicolas Maduro government, following a deal the socialist regime reached the day before with the Venezuelan opposition.

The Biden administration lifted a trading ban on certain Venezuelan sovereign bonds and debt and equity belonging to the state-run oil company, Petróleos de Venezuela (PDVSA). I Photo: PDVSA Facebook

The decision sets a roadmap for holding freer presidential elections next year, as reported by Antonio Maria Delgado and Michael Wilner for the Miami Herald.

In an announcement made by the State Department and Department of Treasury, the Biden administration stated that it would grant a six-month general license temporarily authorizing transactions involving the oil and gas sector in Venezuela.

Additionally, a second general license was issued, authorizing operations of the state-run Minerven, a previously sanctioned gold mining enterprise that had been trading in the black market.

Furthermore, the Biden administration lifted a trading ban on certain Venezuelan sovereign bonds and debt and equity belonging to the state-run oil company, Petróleos de Venezuela (PDVSA).

Reporting for Reuters, Mayela Armas and Vivian Sequera revealed that five people jailed in Venezuela, including well-known opposition figures, have been released, as announced by the opposition, following a deal with the government of President Nicolas Maduro and Washington's demand that certain prisoners be freed.

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