The US reimposed sanctions on Venezuela on Thursday by not renewing a license that eased restrictions on the South American nation’s oil industry.
The US issued a six-month license in October after the government of Venezuelan President Nicolas Maduro made a deal with the US-backed opposition on the upcoming presidential election.
The US claimed Maduro has not “fully met the commitments” to the deal and accused the Venezuelan leader of preventing “democratic opposition from registering the candidate of their choice.” The US previously reimposed other sanctions after Venezuela’s Supreme Court disqualified two opposition figures from running for president.
The State Department said that a new 45-day license has been granted to give companies a “wind down” period to stop doing business with Venezuelan companies.
The US launched a failed regime change effort against Maduro in 2019 when it recognized opposition leader Juan Guaido as “interim president” and tightened harsh sanctions on Venezuela that amount to an economic embargo.
Guaido attempted a failed coup and eventually lost what little support he had in the country. The opposition removed Guaido as interim president last year and dissolved the “interim government.”
