The North American country agreed to reduce sector barriers in exchange for internationally monitored elections in 2024
The United States agreed to ease trade sanctions against Venezuela’s oil sector in exchange for free and internationally monitored presidential elections in 2024. The information was published by The Washington Post.
The North American country will ease sanctions after the Venezuelan government of Nicolás Maduro and the country’s opposition backed by the US signed an agreement allowing free voting in 2024. The agreement is expected to be signed on Tuesday (October 17, 2023) at a meeting in Barbados.
In 2018, the President of Venezuela won the elections, but the result was not recognized by the opposition. Maduro has ruled the country since 2013. At the time, Brazil, like the USA, classified the election as a “fraudulent” election.
If the agreement is signed in 2024, Venezuela’s president will not be able to erect barriers to ban opposition figures from running for office. The US newspaper spoke anonymously to people negotiating between the countries.
A Venezuelan government official reportedly said that the agreement does not contain any plans to release the country’s assets currently held in the United States.
The country’s election would have to be open to international observatories and the global media. Oil sanctions relief could include a license for Venezuela to resume doing business with other countries and the United States.