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Weekly Report - 19 October 2023 (WR-23-42)
VENEZUELA: Maduro hails ‘new era’ after US sanctions lifted
The US government carried out a major reset in its relations with Venezuela on 18 October, lifting some of the most severe sanctions that were imposed as part of its five-year maximum pressure campaign against President Nicolás Maduro’s administration. Sanctions on the oil and gas sectors, the cornerstone of the Venezuelan economy, are among those which have been suspended. The impetus for this significant shift in US policy was an agreement signed between the Venezuelan government and opposition in which the Maduro administration agreed to allow international monitors to observe next year’s presidential election and committed to further negotiations with the opposition.
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