The US administration reimposed sanctions against Venezuela's gold exports and warned Caracas that its crude exports would face similar restrictions after April unless it honors its pledge to hold free presidential elections later this year.
Venezuelan president Nicolas Maduro has reneged on his pledge to allow key members of the political opposition to run for office and to stop arbitrary arrests of opposition members, the US State Department said today.
"Absent progress between Maduro and his representatives and the opposition Unitary Platform, particularly on allowing all presidential candidates to compete in this year's election," the US will not renew the sanctions waiver allowing Venezuela to sell crude and attract new oil and gas investment after 18 April, the State Department said.
As an interim step to show the US is serious about revoking the oil sanctions relief, the US on Monday reimposed sanctions targeting Venezuelan state-owned gold producer Minerven. Oil and gold exports represent a key source of earnings for the Venezuelan government.
Venezuela's supreme court on 26 January upheld a decision to keep in place a 2015 ban on politicians Maria Corina Machado and Henrique Capriles, contrary to a political agreement struck in Barbados in October that calls for a free presidential election in Venezuela later this year.
The US following the Barbados agreement suspended sanctions affecting Venezuela's ability to produce and export crude and gold.
Senior Democratic and Republican members of the US Congress have called on the White House to make good on its threat to snap back all sanctions against Venezuela.
"As Machado's absurd disqualification clearly violates the Barbados Agreement, the US must reimpose related sanctions until a clean election is assured," Senate Foreign Relations Committee chairman Ben Cardin (D-Maryland) said.
Venezuela's executive vice president Delcy Rodriguez denounced the "criminal sanctions" announcement by Washington, but said that the Maduro government will continue to abide by the Barbados agreement.
