Latin America Advisor 2023-10-26 – Inter-American Dialogue

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

October 26, 2023

What Will Eased U.S. Sanctions Mean for Venezuela?

Jorge Rodríguez, an ally of Venezuelan President Nicolás Maduro, and the opposition’s Gerardo Blyde (L-R) signed an agreement last week to hold a presidential election next year. The deal led the United States to ease sanctions on Venezuela. // Photo: @NicolasMaduro via X.

Q

The administration of U.S. President Joe Biden on Oct. 18 announced a six-month easing of sanctions against Venezuela’s oil and gas industry, a move that followed a deal between Venezuela’s government and the opposition to hold a presidential election next year. The U.S. decision allows companies based in the United States and elsewhere to produce and export oil and gas from Venezuela and also to do business with state energy company PDVSA. What does the lifting of the sanctions mean for Venezuela’s oil and gas sector and for President Nicolás Maduro’s government? How likely is Maduro to adhere to the terms of his deal with the opposition, and what will happen if he does not? How much of a possibility does the opposition have of defeating him in an election next year?

A

Michael Shifter, senior fellow and former president, and Andrea Colombo, former intern, both at the Inter-American Dialogue: “The decision to gradually lift U.S. sanctions on Venezuela’s oil and gas sector has been in the works for some time. It represents the culmination of a process that the Biden administration undertook in March 2022 to open a direct channel of communication with the Maduro regime. The timing of the move can be understood in relation to the agreement reached between the Venezuelan government and the opposition’s Unitary Platform in Barbados to hold elections in late 2024, release political prisoners and allow international observation. For the opposition, the accord is certainly a step forward—albeit a modest one—on the long road toward an eventual democratic transition. Uncertainties abound, especially regarding…”

Top News

Venezuelan Gov’t Launches Probe of Opposition Vote

Venezuela’s government on Wednesday launched an investigation into the opposition’s primary election amid accusations of electoral violations and financial crimes.

Fernandes Tapped to Head Brazil’s State-Run Caixa

Brazilian President Luiz Inácio Lula de Silva on Wednesday named Carlos Antônio Vieira Fernandes as CEO of state-run lender Caixa Econômica Federal.

Bullrich Endorses Milei Ahead of Argentina Runoff

Patricia Bullrich, the conservative former security minister who placed third in the first round of Argentina’s presidential election, endorsed right-wing populist Javier Milei ahead of the Nov. 19 runoff. // File Photo: Facebook Page of Patricia Bullrich.

Complete editions of the Latin America Advisor are delivered on a biweekly basis to members of the Dialogue’s Corporate Program and other subscribers. Sign up below for a free complimentary preview subscription.

ABOUT THE LATIN AMERICA ADVISOR

The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

Subscribers

Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

asia & Latin America

education

energy transition & Climate

Migration, Remittances & Development

peter d. bell rule of law

cities

Women & Girls