US threatens to re-sanction Venezuela's oil industry, Caracas is prepared, will Washington soon feel 'the stick hitting its own back'?

On January 30, the US warned that it would re-impose sanctions on Venezuela's oil and gas industry after Caracas banned a key opposition candidate from running for president.

Mỹ dọa tái trừng phạt ngành dầu mỏ Venezuela, Caracas đã có chuẩn bị, Washington sẽ sớm cảm nhận 'gậy ông đập lưng ông'?stvincenttimes

The US threatens to re-sanction Venezuela's oil industry, Caracas is prepared, will Washington soon feel the 'revenge of its own petard'? (Source: stvincenttimes)

AFP reported that the US State Department announced that it will end the renewal of licenses allowing US organizations and businesses to trade with partners in Venezuela's key economic sectors on April 18.

The decision was made because the US believes that Venezuelan President Nicolas Maduro violated an agreement with the opposition reached in Barbados in October 2023 on the South American country's presidential election.

“There has been no progress between Mr. Maduro and his representatives and the United Platform opposition coalition, particularly on allowing all presidential candidates to compete in this year’s election,” said US State Department spokesman Matthew Miller.

Earlier, the US said it would immediately revoke a gold mining license of Venezuela's state-owned Minerven company.

Regarding the above issue, on the same day, Venezuelan Oil Minister Pedro Tellechea affirmed that the country has prepared for all scenarios and is ready to face all situations, including the re-imposition of US sanctions.

Speaking to reporters, Mr. Tellechea emphasized that the US itself will feel the negative impact from its re-imposition of energy sanctions on Venezuela.

This latest development comes as on January 26, Venezuela's Supreme Court of Justice (TSJ) upheld its decision to ban opposition presidential candidate María Corina Machado from holding public office for 15 years.

Ms Machado is accused of being involved in a “corruption plot” orchestrated by opposition leader and former President of the Venezuelan National Assembly Juan Guaidó.

With this decision, Ms. Machado, 56 years old, cannot run for President. Ms. Machado won the opposition's presidential primary election last October with more than 90% of the vote.

The representative of the government's negotiating delegation, Héctor Rodríguez, stated that the Venezuelan government remains steadfast in its stance, ready to dialogue with the opposition, and fully complies with all signed and discussed agreements.

However, Mr. Rodríguez made it clear that the disqualification of candidate Machado was the decision of the TSJ and once the verdict was made, there was nothing more to discuss.

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