{"id":2223599,"date":"2024-04-17T18:26:04","date_gmt":"2024-04-17T22:26:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-reimposes-oil-sanctions-on-venezuela-over-election-infractions\/"},"modified":"2024-04-17T18:30:10","modified_gmt":"2024-04-17T22:30:10","slug":"biden-administration-reimposes-oil-sanctions-on-venezuela-over-election-infractions","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-reimposes-oil-sanctions-on-venezuela-over-election-infractions\/","title":{"rendered":"Biden administration reinstates oil sanctions on Venezuela following election violations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-administration-reimposes-oil-sanctions-on-venezuela-over-election-infractions%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2223599&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The summary could \u200cbe: The Biden administration intends to reintroduce sanctions on Venezuela&#8217;s\u2062 oil and gas industry due to \u200cthe Maduro regime&#8217;s failure to fulfill election promises. These sanctions were originally eased with a six<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/witness-selection-and-last-minute-docs-dump-whats-new-in-braggs-get-trump-hush-money-lawfare\/\" title=\"Key Updates in Bragg's Trump Case: Witness Lineup and Eleventh-Hour Document Release\">-month reprieve<\/a>, but after the regime&#8217;s non-compliance, the sanctions are set to resume, causing Venezuela to gradually halt its oil and \u2064gas activities within \u206245 days. The\u200d Biden administration plans to reimpose \u2062sanctions on Venezuela&#8217;s oil and\u200c gas sector as Maduro&#8217;s regime did not\u2064 meet election commitments. \u200cInitially, these sanctions were relaxed for six months, but due\u200d to \u2063the regime&#8217;s\u200d failure, they will be reinstated.\u200b This decision will lead Venezuela to slowly cease its oil and \u200dgas\u2062 operations within 45 days.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p><iframe loading=\"lazy\" title=\"Reporter\u2019s Notebook: What the Inflation Reduction Act means for climate regulations\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/NTTOSOZVuag?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Biden administration officials announced Wednesday that they will reimpose <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2579754\/us-softens-sanctions-on-venezuela-after-democratic-developments\/\" target=\"_blank\" rel=\"noopener\" title>punishing sanctions <\/a>on Venezuela\u2019s oil and gas sector, saying that the Maduro regime failed to uphold its commitments to hold free and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mike-kelly-same-people-criticizing-trump-peddled-russia-collusion-hoax\/\" title=\"Mike Kelly: Same People Criticizing Trump Peddled Russia Collusion Hoax\">fair elections<\/a>.<\/p>\n<p>The Treasury Department had issued a six-month sanctions reprieve for Venezuela\u2019s <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/oil\" target=\"_blank\" rel=\"noopener\" title=\"oil\">oil<\/a> and gas sector last October. The <a href=\"https:\/\/www.washingtonexaminer.com\/daily-on-energy\/2969324\/daily-on-energy-bidens-venezuela-dilemma\/\" target=\"_blank\" rel=\"noopener\" title=\"oil\">authorization<\/a> allowed the country\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/talks-to-buy-venezuelan-oil-complicated-by-russian-oil-rigs\/\" title=\"Talks to Buy Venezuelan Oil Complicated by Russian Oil Rigs\">state-run oil<\/a> and gas companies to produce and export its supplies for six months, so long as Venezuelan President Nicolas Maduro\u2019s government followed through on its pledge to hold \u201cfree and fair elections\u201d and allow participation from opposition parties.<\/p>\n<p>Biden administration officials said Wednesday that Maduro\u2019s regime had failed to uphold its end of the agreement, thus ending the sanctions reprieve, known as a General License 44, at its six-month expiration date.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/okla-house-fire-kills-4-including-2-firefighters\/\" title=\"Okla. house fire kills 4, including 2 firefighters\">officials added<\/a> that Venezuela would be given 45 days to slowly halt its oil and gas activities, a ramp-down meant to avoid adding volatility and price pressure to global markets.<\/p>\n<p>After that period, U.S. policy and sanctions on Venezuela\u2019s oil sector will return largely to what they were prior to October 2023, officials said.<\/p>\n<p>\u201cAfter a careful review of the current situation in Venezuela, the United States determined Nicolas Maduro and his representatives have not fully met the commitments made under the electoral roadmap agreement,\u201d State Department officials said in a statement Wednesday announcing the reimposition of sanctions.<\/p>\n<p>Department officials said they are \u201cconcerned 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 members of civil society.\u201d<\/p>\n<p>In the last six months, Maduro has taken steps to publicly block opposition candidates from taking place in Venezuelan elections \u2014 including banning the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/el-salvador-president-criticizes-trump-indictment-saying-it-undermines-us-foreign-policy\/\" title=\"El Salvador President Criticizes Trump Indictment Saying It Undermines US Foreign Policy\">main opposition candidate<\/a>,\u00a0Mari\u00e1 Corina Machado, from the ballot completely.<\/p>\n<p>He has also arrested members of her staff and obstructed Venezuelan emigrants from voting in elections.<\/p>\n<p>The resumption of sanctions could be crippling for Venezuela\u2019s oil sector, which has struggled under years of sanctions from the U.S., as well as years of underinvestment and mismanagement, <a href=\"https:\/\/www.eia.gov\/international\/analysis\/country\/VEN\" target=\"_blank\" rel=\"noopener\" title>according<\/a> to the U.S. Energy Information Administration.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Despite being home to the world\u2019s largest crude reserves, Venezuela was producing just 780,000 barrels of oil per day last October, when the U.S. announced the six-month reprieve. At the time, it also had just one active oil rig in operation, a drastic decline from the more than 80 units that were operational in 2014, according to data from Baker Hughes.<\/p>\n<p>Maduro said publicly this week that he is \u201cwilling to negotiate\u201d with the Biden administration, saying in a press conference earlier this week: \u201cI will never close the door to dialogue with anybody.\u201d<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, the Biden administration revealed plans to reinstate harsh sanctions on Venezuela&#8217;s oil and gas industry. This decision comes as a response to the Maduro regime&#8217;s failure to ensure transparent elections. Last October, the Treasury Department granted a six-month exemption for sanctions on Venezuela&#8217;s oil and gas sector which is now set to expire<\/p>\n","protected":false},"author":2650,"featured_media":2223600,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP19282132278207-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2223599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP19282132278207-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2223599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2223599"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2223599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2223600"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2223599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2223599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2223599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}