on Venezuela’s oil and gas sector, saying that the Maduro regime failed to uphold its commitments to hold free and fair elections.allowed the country’s state-run oil and gas companies to produce and export its supplies for six months, so long as Venezuelan President Nicolas Maduro’s government followed through on its pledge to hold “free and fair elections” and allow participation from opposition parties.
The officials added that Venezuela would be given 45 days to slowly halt its oil and gas activities, a ramp-down meant to avoid adding volatility and price pressure to global markets. “After a careful review of the current situation in Venezuela, the United States determined Nicolas Maduro and his representatives have not fully met the commitments made under the electoral roadmap agreement,” State Department officials said in a statement Wednesday announcing the reimposition of sanctions.
In the last six months, Maduro has taken steps to publicly block opposition candidates from taking place in Venezuelan elections — including banning the main opposition candidate, Mariá Corina Machado, from the ballot completely.
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