The US is warning that it will put sanctions back on Venezuela‘s oil industry. This is happening after Venezuela’s highest court decided to keep a ban on opposition candidate MarÃa Corina Machado.
Ms Machado won an important election to become the main candidate for the opposition party in the 2024 presidential election.
However, on Friday, Venezuela’s highest court decided that Ms Machado is not allowed to run for public office for 15 years.
The oil industry is very important for Venezuela’s economy.
The US put limits on Venezuela’s oil business after President Nicolás Maduro began his second term in 2019. Many people didn’t think the election was fair.
The US made the sanctions less strict in October after the Maduro government and the opposition agreed to work together. This agreement is a step towards having fair and free presidential elections in the second half of 2024.
Not long after the agreement was made in Barbados, the US Treasury gave permission for a short time to do business with Venezuela’s oil and gas industry.
But it said that Venezuela needed to keep its promises about the elections in order to renew the license. This included allowing MarÃa Corina Machado and other opposition candidates to participate.
The oil exception will end on April 18th. The US said it won’t renew it unless the government and the opposition in Venezuela make political progress, especially by allowing all candidates to run in the upcoming election.
The US said it would put sanctions back on Venezuela’s state-owned gold mining company, which helps the Maduro government get foreign money.
Ms Machado won the opposition’s primary in October by getting more than 90% of the votes. This has given hope to Venezuelans who want a new government that she could become president – if the election is fair.
As part of the Barbados agreement, the Maduro government agreed to let people from other countries watch the election.
The Supreme Court, controlled by Maduro supporters, decided to keep Ms Machado banned. This has led many people, including Ms Machado herself, to believe that the Barbados deal is no longer going to happen.
Ms Machado promised to stay strong and said she was given a job in the primary that she will do. She said “We will win and they will lose. ” They can’t have an election without me.
Jorge Rodríguez, a friend of Mr. Maduro, who spoke for the government in the Barbados discussions, said that the government did what it promised. He said, “Those who wanted to appeal appealed and also promised to accept the decision. “
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United States of America threatens to reinstate oil sanctions against Venezuela
