Amid high gas prices, the Biden administration is offering sanctions relief to spur oil production in the South American country in exchange for electoral reforms.
The US is achieving progress in talks that may result in the easing of some sanctions on the Venezuelan oil and banking sectors, according to reports in US media. The information emerged Monday from multiple sources with knowledge of the negotiations.
Mediation has taken place on two fronts. Most recently, representatives from the US and Venezuela have met in Doha, Qatar, where the US has urged Venezuelan President Nicolás Maduro to provide guarantees regarding upcoming presidential elections.
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