Venezuela Government and Opposition Resume Talks, US Ready to Ease Sanctions for Internationally Monitored Election
The government of Venezuela and the opposition are set to resume talks after a long suspension, with the United States prepared to ease sanctions if President Nicolas Maduro commits to holding an internationally monitored election next year. This development marks a significant shift in the approach of the Biden administration towards Venezuela, moving away from former President Donald Trump’s maximum pressure campaign.
The United States has consistently stated its willingness to lift some sanctions in exchange for democratic concessions from Maduro, but this announcement offers the first concrete schedule for government-opposition talks in almost a year. The negotiations, aimed at finding a way out of Venezuela’s enduring political and economic crisis, will take place in Barbados.
The initial steps towards easing sanctions would involve significant but limited relief, potentially including the removal of certain restrictions on Venezuela’s banking sector, according to sources familiar with the matter. However, further relaxation of sanctions would hinge on Maduro’s commitment to organizing fair elections that meet international standards.
In a sign of support for the resumption of talks, the U.S. State Department welcomed the announcement but did not explicitly mention sanctions relief. The department stated that the United States would continue its efforts to garner international support for the negotiation process.
The opposition is cautiously approaching the talks, with some members expressing doubts about Maduro’s willingness to follow through on his promises. The opposition plans to hold a primary election on Sunday to select its candidate for the 2024 presidential race, but front-runner Maria Corina Machado is currently banned from holding public office.
The return to talks between Maduro’s government and the opposition was publicized in a statement from Norway, which will serve as an observer. The two sides last met in November 2022 but have now agreed to sign a document in Barbados that is expected to include a date for a presidential election in the latter half of next year. The document will also allow international observers and the participation of opposition figures currently barred from holding office, although it remains unclear whether all opposition candidates will have their bans lifted.
The United States, mindful of Maduro’s failure to fulfill previous commitments regarding free elections, will closely monitor the situation and ensure compliance with the latest promises. Any action by the U.S., such as the announced sanctions relief, will only come after an agreement is reached, and Maduro fulfills his commitment at this stage.
Venezuela has been grappling with the consequences of U.S. sanctions, which were imposed to punish Maduro’s government after an election that was considered a sham by Washington. Maduro’s regime has been able to sustain itself with support from the military, as well as from China, Russia, and Cuba.
As the Biden administration seeks to increase global oil supply and mitigate high prices resulting from sanctions on Russia and OPEC+ output cuts, it has maintained most of the sanctions on Venezuela as leverage to push Maduro towards concrete steps for free elections. This approach has drawn criticism from opponents while aiming to strike a balance between promoting democratic change and addressing economic challenges.
The resumption of talks and the possibility of easing sanctions bring a glimmer of hope for Venezuela, which has been mired in political and economic turmoil for years. The international community, along with the United States, is placing faith in these negotiations to provide a path towards stability and a more democratic future for the Venezuelan people.
