Biden eases sanctions on Venezuela: a new oil agreement between Chevron and PDVSA is in sight

After Cuba, Venezuela. Something is moving between Caracas and Washington, something that shakes the country of Maduro from its lethargy. President Joe Biden announced a first, tenuous measure that eases the wall of sanctions applied in 2018 against the Chavista regime. He authorized Chevron to negotiate a new agreement with the PDVSA, the Venezuelan state oil company, which expired in recent weeks. The US holding will not be able to deal with Orinoco crude oil but set the terms of a marketing contract that opens the way for future collaborations in the mining and refining fields. Other large companies in the sector have already lined up and await the suspension of the sanctions that prevent any type of commercial and industrial relationship with Caracas.

The energy crisis created by the war in Ukraine and the sanctions imposed on Russia push the United States to explore new sources of supply in Latin America. But the decision came after the resumption of talks between high representatives of the Maduro government and the opposition. A photo in which the president of the National Assembly Jorge Rodríguez shakes hands with Gerardo Blyde, emissary of the Unitary Platform, the new grouping of ten parties that make up the block of dissidence, sanctioned the moment wished by Biden and opened the doors of the thaw . The dialogue between the Venezuelan contenders was suddenly interrupted by Maduro himself after the extradition of Alex Saab, the businessman linked to Maduro, his figurehead in numerous financial transactions, the custodian of many secrets. Saab’s transfer from Cape Verde, where he was being held, to the US had sent Chávez’s dolphin into a rage. He knows every detail of the many trafficking in which he is involved and if he were to reach a collaboration agreement with the US authorities he would end up providing the evidence that the US judiciary has been looking for for some time to support the heavy accusations, including that of complicity in drug trafficking, launched in towards the Venezuelan president.

The release of what is considered a national hero in Caracas remains a priority. But for the moment Maduro has not set it as a precondition. He prefers to act internally, confirming the 180-degree turn he gave to his regime: opening up to private individuals, restitution of the industries requisitioned from their legitimate owners, sale of 15 per cent of the shares of two telecommunications giants, adoption of the dollar as a common currency. A way of showing his new face and applying to be part of the international context. The US responds by deleting the grandson of the Venezuelan first lady Carlos Erik Malpica Flores, a senior executive of the state oil company, from the black list of those affected by the sanctions.

Obrador’s intense political-diplomatic activity also weighs on the slow thaw in Cuba and Venezuela. The Mexican president proposes himself as a new point of reference for the region. He recently met Biden to deal with the series of dossiers that have accumulated in recent months in a growing tensions between the two countries. From narco trafficking to the sale of US weapons to the Cartels, to the role of the Goddess questioned after 15 years of collaboration between the US and Mexico. The latest clash arose around the Organization of American States summit convened by Biden in Los Angeles for mid-June. The head of the White House excluded Cuba, Venezuela and Nicaragua from the guest list “because they do not respect democratic standards”. Amlo didn’t like it and threatened to desert the meeting. “The summit is not of Biden,” he said, “it is of the American states. Of all the states, none excluded ”. The president’s men insisted but the protest has also spread to Brazil, Guatemala, Honduras and some Caribbean states determined to boycott the summit if the three excluded are not admitted.

Without Mexico, the largest and most representative country in the area, the meeting would be lame. It would fail before it even started. A prospect that Biden wants to avoid at all costs.