Officials from the United States and Venezuela met secretly this week to discuss the possibility of reforms in Venezuela before the expiry of oil sanction relief next week.
U.S. and Venezuela n government officials met secretly this week ahead of the expiry of oil sanction relief next week. The meeting, in Mexico City, discussed the possibility of reforms in Venezuela , Bloomberg reported citing unnamed sources, with a focus on elections. The United States granted a six-month oil sanction waiver to Caracas last year after the two sides discussed election reforms that would have given Venezuela ’s opposition a chance in the upcoming vote in July.
Analysts have also forecast a higher risk of domestic fuel shortages if the sanctions snap back on April 18. The easing of the sanctions helped Venezuela boost its oil export revenues, with expectations for this year at $20 billion, according to Reuters estimates from January, versus a total of $12 billion in oil revenues for last year. If the sanctions are reimposed, however, the outlook will change drastically.
Venezuela Geopolitics Crude Oil Sanctions Supply Maduro Elections
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