Venezuela talks adjourn after ‘constructive’ weekend

Negotiations between the Venezuelan government and an opposition coalition will resume over 3-6 September following a "constructive" weekend, the parties to the talks said in a joint statement today.

Venezuela's Sebin intelligence agency freed prominent political prisoner Freddy Guevara who was detained on 12 July. Upon his departure from the Helicoide detention center in Caracas this evening, the opposition lawmaker said he was unaware of the conditions of or reasons for his release.

Venezuelan legal rights group Foro Penal says Venezuela has more than 260 political prisoners.

Brokered by Norway, representatives of the two sides signed an initial deal on 13 August in Mexico City, and continued talks through the weekend.

"Recognizing the importance of inclusion, we discussed establishing a mechanism to consult with political and social actors that would be as inclusive as possible," the statement said.

The initial deal signed last week laid out a broad seven-point agenda: universal political rights; universal electoral rights and a timetable for observable elections; lifting of sanctions and restoration of right to assets; respect for the constitutional rule of law; political and social coexistence, renunciation of violence and reparations for victims of violence; protection of the national economy and social protection; and guarantees to implement and verify what is agreed.

Modest aspirations

Venezuela has been subject to US financial sanctions since August 2017 and oil sanctions since January 2019 in a campaign originally designed to force President Nicolas Maduro to step aside in favor of a US-backed interim government headed by opposition leader Juan Guaido.

With Maduro only becoming more entrenched and regional resolve dissipating over the past two years, the Guaido-led opposition has scaled back its aspirations. Its short-term has focused on establishing credible conditions for state and local elections in November, freeing political prisoners and opening a channel for humanitarian aid, including Covid-19 vaccines.

The Maduro government's top priority is the lifting of sanctions, which it blames for undermining its national oil industry and creating economic hardship. Caracas also wants to regain control over international assets, including gold reserves held in the Bank of England that it wants to use to tackle the pandemic.

The US has signaled a willingness to gradually ease the sanctions on Venezuela together with steps toward restoring democracy.

Venezuela's various creditors, including bondholders and arbitration claimants, are hoping the talks open the way for a comprehensive debt restructuring. Oil companies such as Chevron, Repsol and Eni are hoping to monetize their Venezuelan assets.

Norway is facilitating the talks, accompanied by the Netherlands and Russia.

By Patricia Garip