Venezuela’s government and opposition will return to political negotiations, both sides said on Monday, as sources say the United States has reached a preliminary agreement to ease sanctions if President Nicolás Maduro lives up to commitments related to Venezuela’s elections in 2024.
Representatives of Maduro and the opposition are expected to sign an electoral agreement this week, which the United States would soon follow with permits related to Venezuela’s oil sector, according to two people in Washington briefed on the matter, speaking on condition of anonymity.
Any US action will come only after the Venezuelan opposition and Maduro’s representatives sign an agreement pledging to stick to the presidential election date and lift bans on some opposition candidates, these two sources said. They added that any changes to sanctions would depend on Maduro’s behavior.
The United States is aware that Maduro has not fulfilled previous public and private pledges to hold free elections and is watching closely to make sure he keeps his latest promises, these sources said.
Another source in Washington said a document expected to be signed on Tuesday by Maduro’s government and the opposition in Barbados would include a date for elections in the second half of next year and allow the presence of international observers. The document would also allow the participation of opposition figures who are currently banned from holding public office, the source added.
Reuters reported last week, citing five sources, that Venezuela and the United States had made progress in negotiations that could allow at least one other foreign oil company to receive Venezuelan crude oil for debt payments if Maduro resumed talks with the opposition.
Two of those sources cited France’s Maurel & Prom, a joint venture partner with PDVSA, Venezuela’s state oil company, as a possible recipient.
At the time, a spokesperson for Maurel & Prom confirmed that the company “had submitted a request to this effect to the American authorities”, but did not want to go into details.
Oil futures fell on Monday on news of a possible easing of sanctions, as investors continued to ponder the possible impact of the escalating conflict between Israel and Hamas on oil prices.
The return to talks was announced in a statement published by Norway, an observer of the talks, which aim to offer a way out of Venezuela’s long political and economic crisis.
The opposition is expected to hold primaries on Sunday to choose its candidate for 2024, although leader Maria Corina Machado is currently banned from holding public office. Maduro is expected to run for re-election, but has not yet formalized his candidacy.
Source: Terra
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