U.S. considers allowing limited oil business to continue in Venezuela
Biden administration considers how to restrict Venezuela's oil sales without negative consequences.
- Bilawal Riaz
- 1 min read
The Biden administration is weighing options on how to restrict Venezuela’s oil sales without worsening the migrant situation, raising U.S. gas prices, or upsetting Latin American countries. Sanctions were lifted last fall when President Maduro pledged fair elections, but recent actions have raised concerns. One proposal is to allow oil sales but not in U.S. dollars. Biden’s team aims to punish Maduro while maintaining gains made through negotiations. There are fears that reimposing sanctions could backfire politically and economically. The administration seeks to balance pressuring Maduro while supporting Venezuela’s economy. The situation is complicated by the upcoming Venezuelan elections and opposition figures being blocked from running, drawing criticism from neighboring countries.