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ARTICLE · 23 OCTOBER 2023

United States Eases Sanctions On Venezuela

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The United States eased certain economic sanctions against Venezuela on 18 October 2023 in response to the signing of an electoral roadmap agreement between the Maduro regime and Venezuela's Unitary Platform.

GlobalInternational Law
Jeffrey Orenstein
Jeffrey Orenstein
Steven F. Hill
Steven F. Hill
Guillermo S. Christensen
Guillermo S. Christensen
Brian J. Hopkins
Brian J. Hopkins

The United States eased certain economic sanctions against Venezuela on 18 October 2023 in response to the signing of an electoral roadmap agreement between the Maduro regime and Venezuela's Unitary Platform. Under this agreement, the Venezuelan government must: (1) allow the opposition to choose its own candidate according to its internal rules; (2) accept international electoral observers; and (3) allow media outlets access to elections. In response, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) issued the following general licenses (GLs), which provide targeted sanctions relief and pave the way for future sanctions relief, particularly for Venezuela's energy sector, provided political reforms meet the expectations of the Biden administration.

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