US Treasury unveils relief for fuel export bans on Venezuela
- The decision will ease bans on LPG export to Venezuela
- The ban was imposed by Trump's adminstration
- Blinken has previously supported similar decisions
The United States announced lifting bans related to exports of Liquified Petroleum Gas to Venezuela on Monday, reversing a crucial restriction imposed on the state under former US President Donald Trump.
The move, which was carried out by the United States Treasury, will partially ease the fuel export ban on Venezuela for the next year, according to reports from AFP.
The restrictions were put in place by the Trump administration as the former President piled on the pressure on the South American country and PDVSA, Venezuela’s national oil company, in an attempt to dethrone Nicolas Maduro, the left-wing leader of the country. However, the efforts were unsuccessful.
In 2019, two years after Trump took over the White House, the diplomatic connections between the United States and Venezuela were cut off after prolonged periods of strained relations. Since then, the economic, political and humanitarian crisis of Venezuela has grown multifold, according to reports from AFP.
United States Secretary of State Antony Blinken, during his confirmation hearing for the position in front of the US Senate, emphasised his policy on Venezuela and said broadly supports mounting pressure on Venezuela to hold new elections that the US needs to do it “in terms of humanitarian assistance, given the tremendous suffering of the Venezuelan people”.
After the United States imposed restrictions, Venezuela explored other opportunities for diesel transactions. India’s Reliance Industry and Italy’s Eni garnered the approval of the US Treasury, according to US media reports.
The move comes as the United States is currently being criticised by Miguel Diaz-Canel, the leader of Cuba, a state which has also faced the brunt of Trump-era sanctions.
Blinken, in a statement on Monday, said that the Cuban leader was wrong to put the blame on US President Joe Biden, who was being criticised for allegedly turning a blind eye towards the economic restrictions placed by his predecessor, according to reports from AFP.
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