Venezuela’s government and opposition sign an agreement and the United States eases sanctions

The government of Nicolás Maduro and the opposition signed this Saturday in the capital of Mexico an agreement that provides for the creation of a fundwhich will be managed by the United Nations, to address the complex social crisis in Venezuela in the framework of the reactivation of dialogues.

At the same time, the US government announced this authorizes the oil company Chevron to resume operations limited ways of extracting natural resources in Venezuela.

This measure, according to the Treasury Department, reflects the long-term US policy “of providing targeted sanctions based on concrete measures that reduce the suffering of the Venezuelan people and support the restoration of democracy.”

The Treasury Department specified that this authorization prevents Venezuelan state oil company PDVSA from receiving profits from Chevron’s oil sales and allows only business related to Chevron’s joint ventures in Venezuela, not other business with PDVSA.

“Other sanctions and restrictions related to Venezuela imposed by the United States remain in effect“, clarified his statement, according to which the country “will vigorously apply these sanctions and will continue to hold accountable any actor who participates in acts of corruption, violates US laws or abuses human rights in Venezuela”.

The US executive had made any decision on Chevron conditional on the parties returning to the negotiating table and promoting other specific commitments in support of the Venezuelan population.

Venezuela is under US and European sanctions, which seek to facilitate the removal of Maduro from power, but at the same time aggravate the situation economic crisis which affects the country without achieving the desired results.

Talks resumed in May with the easing of some US sanctions following the Russian invasion of Ukraine and its impact on oil prices.

The US government has publicly admitted that Venezuelan oil could be useful in an international market with high prices and a context of high inflation in the US due, in large part, to rising gasoline prices.

The political negotiating table between the Nicolás Maduro regime and the opposition, formally suspended since October 2021 by government decision, was re-established this Saturday in Mexico City.

social context

The Second Partial Agreement for the Protection of the Venezuelan People was signed there, the main objective of which is the recovery of the state resources of the Caribbean country blocked in the international financial system.

The terms of the partial agreement were announced by the head of the Norwegian facilitation team, Dag Nylander, who said that the agreement will allow for important progress for the protection of Venezuelans.

During an act in a hotel in downtown Mexico City, Nylander reported it This social fund will be financed with resources frozen by the Venezuelan state in the international financial system.l, which will be used to support health, food and education programs for poor sectors hard hit by the crisis; improve the deteriorated public electricity system and assist households affected by the heavy rains that occurred in the second half of that year.

The facilitator specified that the United Nations will support the implementation of the agreement and that an observer group will be created, with representatives of both sides, which will monitor the projects.

in the deal The amount the fund will manage was not mentioned.but it should reach 3,000 million dollars.

After thirteen months of suspension of the talks, the government and the opposition are trying to promote the process with this social agreement, advanced in recent months with the mediation of Norway.

The formation of the social fund is part of it an extensive program of discussions which is expected to be deepened in December, which will include the lifting of economic sanctions, setting the conditions for the 2024 presidential election, the release of political prisoners and the lifting of political bans.

Source: agencies