US eases Venezuela oil and gas sanctions for six months after electoral deal

The US Treasury on 18 October issued a six-month general licence temporarily authorising transactions with Venezuela's oil and gas sector, the Associated Press reports. It also authorised dealings with the state gold miner Minerven and lifted the secondary-market trading ban on certain Venezuelan sovereign bonds, while the primary bond market ban stays. The move followed an electoral roadmap agreed on 17 October by President Nicolás Maduro's government and the opposition Unitary Platform ahead of the 2024 presidential election. Treasury Under Secretary Brian Nelson said the authorisations could be amended or revoked at any time if Maduro's representatives failed to honour their commitments.

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