US Suspension of Venezuelan Sanctions Won't Work, Lawmaker Says
The U.S. was wrong to suspend certain sanctions against Venezuela last week, Rep. Michael McCaul, R-Texas, said, adding that the Biden administration gave in to the Nicolas Maduro-led government’s “empty promises for insignificant electoral reforms.” McCaul, who chairs House Foreign Affairs Committee, said the administration's decision to “imprudently” grant “sweeping sanctions relief” to the country’s oil, gas and gold sectors will “fill the regime’s coffers and allow Maduro to ensure next year’s presidential elections, which have yet to be scheduled, are neither free nor fair at the expense of the Venezuelan people fighting for democracy.”
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McCaul’s comments came after the Treasury Department issued four new general licenses to suspend certain sanctions on Venezuela after the country's government and opposition formally agreed to work together on conditions for the next presidential election (see 2310180070). A Treasury official said the U.S. will revoke the licenses if the Maduro government doesn’t follow through on its commitments.