"US Threatens Venezuela Oil Ban Over Election Progress"

1 min read
Source: Bloomberg
"US Threatens Venezuela Oil Ban Over Election Progress"
Photo: Bloomberg
TL;DR Summary

The Biden administration is set to reimpose oil sanctions on Venezuela if President Maduro's regime does not take steps to ensure fair elections within the next two days, ending a six-month reprieve. The US plans to allow a Treasury Department license permitting oil and gas production to expire on Thursday if Venezuela fails to act.

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