OFAC Announces Venezuela Sanctions Relief
The US Treasury’s Office of Foreign Assets Control (OFAC) presented the suspension of key sanctions on Venezuela late on Wednesday. The announcement followed an agreement between the Venezuelan government and opposition on Tuesday in Barbados, and negotiations between Washington DC and Caracas last month in Qatar.
What we see is that the main reason for these sanctions waivers is not about giving concessions to Maduro. Instead, the Biden administration was trying to implement these suspensions regardless, out of its own concerns—migration, energy prices, geopolitics, and others.