US reimposes sanctions on Venezuela as hope for democracy crumbles

Last Updated: June 21, 2024By

Crushing Blow: US Sanctions Return to Venezuela


Oil Sanctions Slam Back on Venezuela

The Biden bunch just dropped a big ol’ hammer on Venezuela, slapping those oil sanctions right back on. They’re giving Nicolás Maduro, the big boss down there, a stern talking-to for trying to tighten his grip on power. Funny thing is, just six months back, the US was easing off those restrictions, hoping maybe Venezuela would sprout some democratic wings.

US Gives Maduro’s Crew 45 Days to Pack Up Shop

So, this big shot from the US, talking to a bunch of reporters, spilled the beans on the decision. He said any US company playing ball in Venezuela has got 45 days to pack up and scram, or risk sending the world’s energy markets into a tailspin. The dude wouldn’t put his name on it, though. Said it was hush-hush government stuff.

Maduro’s Rollercoaster Ride


Flashback to October, when the US was feeling all generous, giving Maduro’s crew a pass on their state-run oil game. Why? ‘Cause they promised to play nice and have a fair presidential showdown. Maduro even set a date for July and said, “Hey world, come watch us play fair!” But surprise, surprise, his buddies in the inner circle pulled some shady moves, locking out his main competition, Maria Corina Machado, and her pals.

Back to Square One

Now, Uncle Sam’s slamming the door shut again, back to how things were before they tried that whole peace treaty down in Barbados. No US companies can cozy up with Venezuela’s state-run oil guys without Uncle Sam’s permission slip from the treasury department.

What’s Next for Venezuela’s Oil Game?

Who knows what this means for Venezuela’s oil biz? Will Maduro play ball fair now? Doubt it. The big brains say those six months of breathing room the US gave him weren’t enough to fix the mess down there. But hey, at least Maduro got to skip those sneaky middlemen and sell oil straight-up for a bit. Cash in the bank, right?

Uncle Sam Ain’t Messing Around

Even though the Biden crew’s giving Maduro the stink-eye, they’re not going back to that “maximum pressure” game Trump played. That just made Maduro dig his heels in deeper, experts reckon. Chris Sabatini, this smart cookie from Chatham House, says it would’ve been dumb for the White House to ignore Maduro’s shenanigans. Nobody likes a pushover.

Venezuelans Are Fed Up

Ask any Venezuelan, they’re done with Maduro. But they need a fair fight. Even other bigwigs in South America, like the bosses in Colombia and Brazil, are saying Maduro’s playing dirty. Time to shape up or ship out, Maduro.

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