Venezuela sanctions extension reduced by EU
The Council of the European Union extended its sanctions on Venezuela for six months instead of the usual one year, indicating it was taking doing so ‘exceptionally’ in light of an agreement by the government of President Nicolás Maduro for elections next year.
‘The Council welcomes the Venezuelan-led political agreement of 17 October 2023, in Barbados, which represents a positive and necessary step in the continuation of an inclusive dialogue process and towards the restoration of democracy in Venezuela,’ the Council said 13 November. ‘In this context and in the framework of the annual review of its restrictive measures, the Council has decided to exceptionally shorten the duration of the upcoming renewal from 12 to 6 months.’
‘These restrictive measures include an embargo on arms and on equipment for internal repression as well as a travel ban and an asset freeze on 54 listed individuals,’ the Council explained.
Last month, the United States eased some oil, gas and gold sanctions on Venezuela following an agreement between Maduro’s government and the US-backed opposition for presidential elections for the second half of next year.
