US eyes sanction reliefs on Venezuela's oil sector
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Reports show that the US is stepping towards implementing sanction reliefs on Venezuela after a meeting between US official Joe Finer with President Gustavo Petro in Colombia earlier this week.
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Children play baseball close to two derelict oil wells at a neighborhood in Cabimas, Zulia state, Venezuela, Monday, Oct.10, 2022 (AP Photo/Ariana Cubillos)
The US is willing to make further concessions to Venezuela regarding the country’s sanctioned oil sector after a US delegation visited Colombia, according to a source cited by Sputnik.
The delegation was headed by US Deputy National Security Advisor Jon Finer who attended an international conference on Venezuela, where he outlined the necessary steps the US-sanctioned country must complete before sanction reliefs can be implemented.
The conference was launched in order to reinstate negotiations between the democratically elected Maduro government and the US-backed opposition.
"The high-level US delegation in Bogota… suggests the US is prepared to make concessions, but if Maduro doesn’t budge, I fail to see how the deadlock will be broken," said the source to Sputnik.
The source added that the opposition has not developed a position on sanction reliefs and has not made efforts to lobby against the process to the Biden administration.
The Venezuelan opposition voted to oust Juan Guaido and dissolve his government in December, later appointing Dinorah Figuera.
Colombian efforts to relief Venezuela
The US-appointed leader was not invited to the conference as the Colombian Foreign Ministry pointed out on Monday, "Foreign Minister Alvaro Leyva Duran has not invited Mr. Juan Guaido, for which reason his attendance at the Conference is not available."
Guaido has continuously criticized Petro’s policies toward Maduro, including the planned conference attended by representatives of the US and at least 15 Latin American and European countries.
US President Joe Biden and Colombian President Gustavo Petro discussed sanction policies during a meeting in the White House last week and released a joint statement that underlines a "shared commitment to support and contribute to the solution of the situation in Venezuela."
US seeks to expand oil sources
The US who has sanctioned Venezuela's oil sector lifted some of them in 2022 after 7 US prisoners were released from Venezuela, and the government resumed talks with the opposition.
The US Treasury provided in November a new license allowing Chevron to extract oil in Venezuela for six months through its joint venture partners such as PDVSA. However, this license does not allow for the expansion of operations or new US investments in Venezuela's oil sector.
Pedro’s initiatives are expected to deliver a positive outcome for the Venezuelan people after US-led unilateral sanctions and the freezing of state assets aggravated inflation in Venezuela and took its toll on the living conditions of its people.
