U.S. sanctions on Venezuela reinstated

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Venezuelan regime

Fox News

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Biden urged to crack down on oil companies doing business with Venezuela after Maduro's refusal to cede power

Summary

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74% Informative

The Biden administration eased sanctions on Venezuela in efforts to persuade dictator Nicolas Maduro to hold free and fair elections.

Critics say the administration left major carve-outs for U.S.-based companies doing business there.

One option would be to cancel the remaining licenses for big oil companies like Chevron to make deals with PDVSA , the country's state-owned oil company.

Why, exactly, the Biden administration hasn’t taken enforcement action is up for debate.

Coates believes it is "to keep domestic energy prices low before the election" Martinez-Fernandez said there could be heavy lobbying involved behind the scenes.

The administration could be worried that removing U.S. companies from the scene would create a space for China to swoop in and set up operations.

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formal

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English

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possibly offensive

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