Venezuela: Sanctions Actions and Supporting Democracy

Actions by Nicolas Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados last October by representatives of Nicolas Maduro and the Unitary Platform.

In support of the Barbados Agreement, the United States issued General License 44, which provides relief to Venezuela’s oil and gas sector. Absent progress between Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year’s election, the United States will not renew the license when it expires on April 18, 2024. Additionally, the United States is revoking General License 43, which authorized transactions involving Minerven – the Venezuelan state-owned gold mining company. U.S. persons will have fourteen days to wind down any transactions that were previously authorized by that license.

The United States remains strongly committed to supporting dialogue between the parties and to the aspirations of the Venezuelan people for a democratic future. We will continue to work with the international community and all peaceful democratic actors across the political spectrum in Venezuela and leverage mechanisms at our disposal to encourage a return to the principles in the Barbados agreement.

The Barbados electoral roadmap agreement remains the most viable mechanism to resolving Venezuela’s longstanding political, economic, and humanitarian crisis and realizing competitive and inclusive elections in Venezuela, but that will require Maduro and his representatives upholding the roadmap’s principles and ensuring that opposition political actors have the right to select their candidates for the 2024 presidential election freely.