Biden Reimposes Sanctions on Venezuela After Six-Month Reprieve and Fraudulent Elections

Jul 29, 2024, 06:22 AM

President Joe Biden’s administration has reimposed oil sanctions on Venezuela after determining that Nicolas Maduro’s regime failed to honor an agreement to allow a fairer vote in elections scheduled for July. The Biden administration had previously eased Trump-era sanctions on Venezuela in exchange for Maduro’s promise to hold free and fair elections. This reprieve lasted six months. However, the recent elections were widely regarded as fraudulent, leading to the reinstatement of sanctions. The Biden administration's initial decision was partly driven by the need for oil. This move highlights the ongoing challenges in U.S. foreign policy towards Venezuela and the difficulties in negotiating with authoritarian regimes.