EU Extends Venezuela Sanctions Regime for Another 6 Months

The European Council on Nov. 13 renewed its sanctions on Venezuela for another six months, setting them up to now expire on May 14, 2024. The sanctions include an embargo on arms and equipment for internal repression along with an asset freeze on 54 people.

While the council extended the sanctions, it welcomed the signing of the Venezuelan-led political agreement on Oct. 17 that the council said "represents a positive and necessary step in the continuation of an inclusive dialogue process and towards the restoration of democracy in Venezuela." Because of this, the council "decided to exceptionally shorten the duration of the upcoming renewal from 12 to 6 months."

The move follows the U.S. decisionin October to suspend certain sanctions on Venezuela after the country's government and opposition formally agreed to work together on conditions for the next presidential election (see 2310180070). At least one U.S. lawmaker has since asked the Biden administration to threaten to reimpose the sanctions after the Nicolas Maduro-led regime canceled recent primary election results that led to the opposition party electing Maria Corina Machado as their presidential candidate (see 2311080030).