The power and the opposition of Venezuela signed, on Saturday November 26 in Mexico City, a “partial agreement” which immediately translated into an easing of US oil sanctions against the regime in Caracas. This dialog represents “a hope for all of Latin America” et “The Triumph of Politics”greeted Mexican Foreign Minister Marcelo Ebrard.
Venezuelan President Nicolas Maduro hailed him as a “not towards a new chapter” for his country, which he owes “keep moving towards the peace and well-being we all desire”.
The dialogue opened in August 2021 in Mexico City, after failed attempts in 2018 and 2019. Nicolas Maduro suspended the talks two months later, following the extradition to the United States of Alex Saab, a Venezuelan businessman close to power tried for money laundering.
Representatives from Caracas and the Venezuelan opposition reached an agreement on stage on Saturday “in terms of social protection”which will in particular make it possible to free up Venezuelan resources blocked abroad to finance social projects.
For the planning and management of this fund, the two sides will request the support of the United Nations (UN), according to the agreement read by a representative of Norway, a mediator country in the Inter-Ezuelan dialogue in Mexico. “Thanks to this deal, we will save more than three billion dollars”, estimated the main representative of Venezuelan power, the president of the National Assembly Jorge Rodriguez. The fund will be managed by the UN “with a programmatic framework of projects and construction sites to be carried out”said opposition representative Gerardo Blyde.
Political and economic crisis
Poverty affects eight out of ten people in Venezuela, according to the Encovi national survey on living conditions published earlier this month. Seven million Venezuelans have fled their country due to the political and economic crisis, especially after the death of Hugo Chavez in 2013.
The Secretary General of the United Nations, Antonio Guterres « note price » of this request for assistance, his spokesman said. “Secretary-General welcomes agreement” et “to encourage” parts to finish “new agreements that address the political, social and human challenges facing the country”.
President Maduro is calling for the lifting of the American economic sanctions that have hit his country, in particular the embargo on oil exports. For his part, the opposition continues to ask for solutions to the “humanitarian crisis”, “respect for human rights” and warranties for “free and observable elections”, the Unitary Platform stressed in a press release on Thursday. There is no consensus on these elections, which are expected to take place in 2024, according to a source close to the matter consulted by Agence France-Presse on Thursday. The opposition accuses Maduro of being re-elected in 2018 fraudulently.
In a joint statement, the United States, the European Union, the United Kingdom and Canada “welcomed the decision to resume dialogue” between Maduro’s socialist regime and the opposition. A senior US official called the deal a“an important step in the right direction”. The statement also calls on both sides to do so “demonstrate goodwill for a comprehensive deal leading to free and fair elections in 2024”.
Offsetting Russian oil
As a consequence of this “partial agreement”, the US Treasury Department authorized, in a press release, the oil giant Chevron to partially resume its oil extraction activities in the country, relaunching its joint venture held in partnership with the public company Petroleos de Venezuela (PdVSA ). Chevron must, however, ensure this “PdVSA does not receive revenue from oil sales made by Chevron”.
In another press release, the oil giant pledged to comply with the “imposed regulatory framework”confirming that it has received authorization to partially resume its activities in Venezuela.
By May, Washington had already allowed Chevron to do so “negotiate the terms of potential future business in Venezuela”which represented a first violation of the Venezuelan oil embargo imposed by Washington in 2019 in the hope of ousting Nicolas Maduro and his socialist regime.
The United States is looking for new hydrocarbon resources to compensate for the loss of Russian crude oil following the sanctions in response to the war in Ukraine. However, according to experts, Venezuela has one of the largest oil reserves in the world.
