THE BOTTOM LINE UP FRONT
The United States' temporary suspension of certain sanctions on Venezuela's oil and gas sector, including transactions with Petróleos de Venezuela, S.A. (PdVSA), is set to expire on April 18, 2024.
Despite initial easing aimed at fostering democratic reforms, skepticism surrounds the potential for improved U.S.-Venezuela relations. Observers in Caracas anticipate a likely reinstatement of oil and gas sanctions without significant developments by the deadline.
This prospect, coupled with actions suggesting a downsizing of the U.S. diplomatic presence in Venezuela, underscores the fragile détente. As the migrant crisis exacerbates and the Maduro regime shows reluctance to engage in substantive negotiations ahead of the U.S. presidential election, companies and diplomatic circles are urged to brace for a complex period ahead, potentially marked by renewed sanctions and heightened geopolitical tensions.
