Washington’s ultimate goal – and that of the otherwise often fragmented Venezuelan opposition – is to press Mr Maduro to create free and fair conditions for the 2024 presidential election. In the past, Mr Maduro has controlled elections by expelling many opposition leaders, imprisoning others and co-opting political parties.
Francisco Monaldi, director of the Latin American energy program at Rice University, said the Chevron deal isn’t just symbolic. According to Argus, an industry monitor, the company could be producing more than 200,000 barrels a day in Venezuela within two years, adding to the roughly 765,000 barrels it is currently pumping daily.
The question to watch going forward, he added, is whether other companies could use the Chevron deal to pressure Washington to lift more sanctions on Venezuela.
Current US regulations prohibit both American and foreign companies from buying Venezuelan oil. But companies like Spain’s Repsol and India’s Reliance have lobbied for years in Washington for the sanctions to be lifted, Mr Monaldi said.
“It’s very difficult to justify — that the US is telling India not to buy Venezuelan oil if they buy Venezuelan oil,” he said.
While the multi-billion-dollar humanitarian aid agreement has yet to be finalized, the Venezuelan government and opposition signed an agreement on Saturday that sets out the framework for overseeing this future program. Norway will facilitate this monitoring process.
In a presentation to the news media, Dag Nylander, the head of Norway’s delegation at the Mexico meeting, said the aid program will help improve the country’s public health system, its national electricity system, its public education system, etc. It would face problems tackle this year’s torrential rains.
Julie Turkewitz reported from Bogotá, Colombia and Zolan Kanno-Youngs from Nantucket, Massachusetts. Isayen Herrera provided coverage from Caracas, Venezuela.
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