The United States announced on Saturday an easing of the oil embargo against Venezuela against a background of Russian isolation, immediately after the announcement of the signing of an agreement between the power of Nicolas Maduro and the opposition to Mexico.
The US government has authorized oil giant Chevron to partially resume hydrocarbon extraction in Venezuela minutes after the announcement of a second “partial social protection agreement for the Venezuelan people”.
In a statement, the Treasury Department authorized Chevron to partially relaunch its joint venture with Petroleos de Venezuela (PdVSA, a state-owned company). Chevron must, however, ensure that “PdVSA does not receive any revenue from oil sales made by Chevron”.
Chevron has pledged to respect the “imposed regulatory framework”, confirming that it has received authorization to resume part of its activities in Venezuela.
In May, Washington had already allowed Chevron to “negotiate” its possible resumption of operations in Venezuela, which represented a first breach of the embargo on Venezuelan oil imposed by Washington in 2019 in the hope of ousting Nicolas Maduro. .
The United States is seeking to diversify its hydrocarbon supply to compensate for the loss of Russian crude following the sanctions imposed in response to Russia’s invasion of Ukraine. Venezuela would have the largest reserves in the world, according to some experts.
Washington welcomed the agreement in a joint statement with the European Union, Canada and the United Kingdom, which added: “We urge the parties to engage in good faith dialogue towards a comprehensive agreement leading to free and fair in 2024.”
No deal on elections
On the merits, the power and the opposition have agreed to take all the necessary steps to release “legitimate funds” belonging to Venezuela “which are frozen in the international financial system”.
This money will feed a “fund for the social protection of the Venezuelan people” in order to meet the most urgent needs of the country (health system, food, electricity network, education, response to the torrential rains which killed nearly 80 people in October) .
For the design and management of this fund, the two parties will request the support of the United Nations, according to the agreement read by a representative of Norway, a mediating country in the inter-Venezuelan dialogue in Mexico.
United Nations Secretary General Antonio Guterres “took note” of this request for assistance, his spokesman said.
“The Secretary General welcomes the agreement” and “encourages” the parties to conclude “new agreements that address the political, social and human challenges facing the country”.
Venezuelan President Nicolas Maduro hailed a “step towards a new chapter” for his country, which must “continue to move towards the peace and well-being that we all want”.
“By means of this agreement, we will save more than three billion dollars”, estimated its representative in Mexico, the president of the Parliament Jorge Rodriguez.
The “mission” of the opposition is “to obtain the democratic conditions for an alternation”, declared its representative, Gerardo Blyde.
President Maduro demands the lifting of the American economic sanctions which hit his country, in particular the embargo on oil exports.
For its part, the Venezuelan opposition is calling for solutions to the “humanitarian crisis” and guarantees for “free and observable elections”, a statement from the United Platform said on Thursday.
Continuing political crisis
There is no consensus on these elections, which should take place in 2024, according to a source familiar with the matter consulted by AFP on Thursday.
The opposition accuses Mr Maduro of being re-elected in 2018 fraudulently.
Poverty affects eight out of ten people in Venezuela, according to the national Encovi survey on living conditions published earlier this month.
Seven million Venezuelans have left their country due to the political and economic crisis, especially since the death of former President Hugo Chavez in 2013.
The dialogue opened in August 2021 in Mexico City, after attempts that came to an end in 2018 and 2019.
Nicolas Maduro suspended the talks two months later, after the extradition to the United States of Alex Saab, a Venezuelan businessman close to the power prosecuted for money laundering.
The Mexico agreement on Venezuela represents “hope for all of Latin America” and “the triumph of politics”, welcomed Mexican Foreign Minister Marcelo Ebrard.
At the same time as the talks in Mexico City, Caracas has been hosting since Monday the resumption of negotiations between the Colombian government and the ELN (National Liberation Army), considered the last active guerrilla in Colombia.