The United States is reinstating sanctions on Venezuela’s oil sector — after having warned that it wanted to see President Nicolas Maduro make progress on implementing an electoral roadmap agreed to last year. Still, the U.S. Treasury Department said it would process requests to authorize individual deals.
Read more about that from April 17 news stories by Reuters here and Agence France-Presse here.
The Atlantic Council Global Energy Center asked its experts to weigh on what it means for politics in Venezuela, as well as global oil markets.
Here is what David L. Goldwyn, chair of the Atlantic Council’s Energy Advisory Group, had to say about what he described as an attempt by the U.S. to seek a “Goldilocks solution” to the issue:
Much also depends on the ability of the US Treasury to respond to those license requests swiftly. But with this one move, the United States has avoided blame for interference in the Venezuelan elections, preserved diplomatic capital for a future day, and this time managed to punish the aggressor more than the victims. Given the grim circumstances, this was the best outcome available.
“Experts react: The US just reimposed sanctions on Venezuela. What does this mean for energy markets and Venezuela’s election?”, New Atlanticist, April 18, 2024.
Read the rest of the expert analysis published from the Atlantic Council published April 18, 2024.
