After a “partial deal” between the government and the opposition, the US eased the oil embargo

The Power and Resistance of Venezuela was signed on Saturday, November 26, in Mexico City, A “partial agreement” It immediately eased US oil embargoes against the regime in Caracas. This conversation reflects “One Hope Across Latin America” And “Triumph of Politics”He congratulated Mexican Foreign Minister Marcelo Ebrard.

After failed attempts in 2018 and 2019, dialogue was launched in Mexico City in August 2021. Nicolás Maduro suspended the talks after two months. After Alex Sapp was extradited to the United StatesA Venezuelan businessman close to the government is on trial for money laundering.

Representatives of Caracas and the Venezuelan opposition have reached a platform agreement “Based on Social Security”This would make it possible to release Venezuelan resources blocked abroad specifically to finance social projects.

For the design and management of this fund, both parties will seek the support of the United Nations (UN), according to an agreement read by the representative of Norway, the mediator country in the Venezuela-Mexico negotiations. “With this deal, we will save more than three billion dollars.”, the chief representative of Venezuelan power, President of the National Assembly Jorge Rodríguez estimated. This fund is funded by the UN “With a program framework of projects and work sites to be implemented”Opposition MP Gerardo Plait said.

Political and economic crisis

Poverty affects eight out of ten Venezuelans, according to the National Encovi survey of living conditions released earlier this month. Seven million Venezuelans have fled their country due to the political and economic crisis, particularly after the death of Hugo Chávez in 2013.

President Maduro is demanding the lifting of US economic sanctions that have hit his country, particularly the ban on oil exports. For its part, the opposition continues to demand solutions “Humanitarian Crisis”, “Respect for Human Rights” and warranties “Free and Observable Elections”, Unitary Platform underlined in a press release on Thursday. According to a source familiar with the matter consulted by Agence France-Presse on Thursday, there is no consensus on these elections, due in 2024. The opposition accuses Mr Maduro of fraudulent re-election in 2018.

In a joint statement, the US, EU, UK and Canada “We welcome the decision to resume negotiations” between Maduro’s socialist regime and the opposition. A senior US official called the agreement“An important step in the right direction”. The statement also said that both parties are requested “Express good will for a comprehensive agreement leading to free and fair elections in 2024”.

Compensation for Russian oil

Because of this “partial agreement”, the US Treasury Department has authorized oil giant Chevron to partially resume its oil extraction operations in the country by resuming its joint venture with public company Petroleos de Venezuela (PdVSA), in a press release. However, Chevron has to confirm that “PdVSA receives no revenue from oil sales made by Chevron”.

In another press release, he promised to respect the oil company “Imposed Regulatory Framework”Confirms that it has been authorized to partially resume its operations in Venezuela.

In May, Washington had already sanctioned Chevron “Negotiate the terms of possible future operations in Venezuela”It represented the first violation of a Venezuelan oil embargo imposed by Washington in 2019 in hopes of ousting Nicolas Maduro and his socialist regime.

The United States is seeking new hydrocarbon resources to offset the loss of Russian crude oil as a result of sanctions in response to the war in Ukraine. However, according to experts, Venezuela has the largest oil reserves in the world.