:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/72TCACT6PVC6RA6B4MN3VUAM2Y.jpg "Uncertainty worsens in Venezuela as the deadline granted by the US for the end of sanctions relief runs out")
Venezuela is facing uncertainty as the deadline for the expiration of the relief of US sanctions looms just one month away. The suspension of some sanctions, including on oil and gas, is subject to the steps taken by the Venezuelan government to ensure “competitive” presidential elections in July. The US is particularly looking for the participation of anti-Chavista liberal deputy María Corina Machado, who has been disqualified from holding elected positions until 2036.
The Chavista regime, however, is adamant about not bowing to the demands of Washington, despite the threat of sanctions being resumed. The upcoming elections have been marred by concerns from the US regarding the disqualification of opposition members and the timeline set by the Venezuelan National Electoral Council.
Economists and experts are closely monitoring the situation, with varying projections for the Venezuelan economy depending on the outcome of the US sanctions. While the Maduro regime remains optimistic about economic growth, some fear the repercussions of a return to sanctions.
The actions of the regime, including increased cooperation in the energy sector, suggest a contingency plan in case sanctions are reinstated. However, any return of sanctions would have negative consequences for Venezuela, including reduced investment opportunities and difficulties in accessing Western markets for its oil.
As the deadline approaches, all eyes are on the US decision regarding the extension of sanctions relief and the implications for Venezuela’s economy. The outcome of the upcoming elections and the participation of key opposition figures will play a crucial role in determining the future of US-Venezuela relations.