The United States will ease some oil and gas sanctions against Venezuela after the country’s government and opposition agreed to hold elections there next year, the Treasury Department said Wednesday.
In response to those “democratic developments,” the Treasury “has issued General Licenses authorizing transactions involving Venezuela’s oil and gas sector and gold sector, as well as removing the ban on secondary trading,” a statement from under secretary for terrorism Brian Nelson said.
It added, however, that they could be amended or revoked at any time if the electoral deal falls through.
