Biden Admin Brings Back Sanctions Against Foreign Nation

(NationRise.com) – The Biden administration announced on April 17 that it would reimpose sanctions against Venezuelan oil, as the socialist regime of dictator Nicolas Maduro hasn’t delivered on its promise to guarantee a free and fair presidential election. The sanctions against the South American nation’s oil were initially imposed during the Trump administration, with the current White House deciding to lift them back in October 2023, after months of negotiations with the country.

Over the last few months, the socialist regime has increased its persecution of opposition leaders in Venezuela, and it even prohibited its main leader, Maria Corina Machado, from presenting her candidacy despite winning the primaries. Following the arbitrary decision, Machado publicly proposed a substitute candidate named Corina Yoris, who was also blocked by the regime without providing any explanation.

With the reimposition of sanctions, oil companies in Venezuela will have up to 45 days to conclude their business dealings with the South American nation’s gas and oil sector. The country has been descending into political and economic chaos since the rise of socialist tyrant Hugo Chavez back in 1999, turning one of the wealthiest nations in the Western Hemisphere into one of the poorest in the world.

Many journalists and political analysts in the United States and Latin America criticized the Biden administration’s decision to lift sanctions last year, as they explained that the Venezuelan regime is a threat to the region. They added that agreeing to negotiate with the socialist dictatorship for political reforms was a mistake, as many negotiations and dialogues have happened in the past, and the regime ended up using them to buy time.

According to a The Hill report, Biden administration officials said that the sanctions’ reimposition won’t impact an authorization granted to Chevron in 2022 to resume its oil operations in the South American nation. The media outlet also said that the US Treasury Department will keep granting licenses to some oil companies to operate in Venezuela on a case-by-case basis.