U.S. eases sanctions on Venezuelan oil and gas

This document contains information collected from various public sources. It recounts the evolution of the sanctions imposed by the U.S. Treasury Department on Venezuelan officials and entities in order to make political and business scenarios visible.

The international sanctions imposed on high-ranking Venezuelan officials, as well as on its financial system and oil and gas industries, have been decisive in U.S. foreign policy towards Venezuela and have influenced its geopolitical position in the region. These were born with the objective of pressuring the government of Nicolás Maduro to guarantee respect for human rights, democracy and the rule of law.

Over the course of almost 10 years, the sanctions have been transformed in response to political and economic movements, not only in Venezuela, but also regionally and globally. The last year has been particularly dynamic, as talks between the opposition and the government of Nicolás Maduro, in the context of the Ukraine-Russia war and the global oil and gas market situation, have generated a greater sense of urgency for sanctions to coexist with the development of strategic business in the country and, in turn, push for better conditions for the 2024 presidential elections.