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AP-National

US eases oil, gas and gold sanctions on Venezuela after electoral roadmap signed

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Published 6:04 PM

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The United States has agreed to temporarily suspend some sanctions on Venezuela’s oil, gas and gold sectors. The move comes in response to Venezuela’s government and a faction of its opposition formally agreeing to work together to reach a series of basic conditions for the next presidential election. President Nicolás Maduro’s administration and the Unitary Platform reached an agreement just days before the opposition holds a primary to pick its candidate for the 2024 presidential election. The U.S. Treasury on Wednesday issued licenses that would temporarily authorize transactions involving Venezuela’s oil and gas sector and the state-owned gold mining company. It removed the secondary trading ban on certain Venezuelan sovereign bonds.

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