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US eases oil, gas and gold sanctions on Venezuela after electoral roadmap signed

October 18, 2023

In response to Venezuela’s government and a faction of its opposition formally agreeing to work together to reach a series of basic conditions for the next presidential election, the U.S. agreed Wednesday to temporarily suspend some sanctions on the country’s oil, gas and gold sectors.

Tuesday’s agreement between President Nicolás Maduro’s administration and the Unitary Platform came just days before the opposition holds a primary to pick its candidate for the 2024 presidential election.

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