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Weekly Report - 01 December 2022 (WR-22-48)

Venezuelan talks back on and sanctions eased

More than a year after the previous attempt at dialogue collapsed in acrimony, Venezuela’s government and opposition reached an agreement on 26 November to request access to frozen assets abroad in order to address the social and humanitarian crises afflicting the country. The announcement was followed immediately by an easing of US sanctions, with oil giant Chevron authorised to resume its operations in Venezuela. Although a full lifting of sanctions remains a long way off, the planned cooperation on social spending marks a significant step towards bridging the political divide in Venezuela, and President Joe Biden’s administration can be expected to offer further carrots to President Nicolás Maduro in exchange for democratic reforms.

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