Biden Administration Eases Sanctions on Venezuela in Response to Election Agreement
The Biden administration has eased sanctions on Venezuela, specifically in the oil, gas, and gold sectors, following an agreement between the government of President Nicolás Maduro and the U.S.-backed opposition to hold competitive presidential elections next year. The Treasury Department issued a six-month general license allowing U.S. companies to engage in previously prohibited transactions in Venezuela's state-controlled energy sector, subject to conditions related to fair elections and the release of wrongfully detained individuals. However, some sanctions remain in place, and the U.S. is expecting further steps from Venezuela, such as defining a timeline for electoral reinstatement and the release of detainees, including American nationals.
Panama's President-elect Jose Raul Mulino has announced his first cabinet selections, emphasizing a pro-business approach.