“But negotiations continue”the analyst emphasizes: “In recent days, there has been a direct meeting between US and Venezuelan government officials. So far this has not yielded any positive results, but at least it is known that they are still talking.”.

Indeed, with this measure Washington does not close the door to dialogue. Terminating License 44 will not remove European and American oil companies from Venezuela, much less Chevron, which has been operating in the country again since 2022. Private licenses will be assessed on a case-by-case basis..

Undesirable effects

For the United States, A full restoration of sanctions would have the undesirable effect of seven months before elections.. Among other things, liberal analysts say the decision will harm Venezuela’s economy and could ultimately lead to even greater migration of Venezuelans.

“There is concern from the Biden administration. due to the side effects of the resumption of sanctions or the termination of their easing, especially in matters of migration. Because as the Venezuelan economy continues to struggle, and here, although there is some growth at the moment, the humanitarian crisis is very serious, this is obviously pushing up migration, some of which ends up reaching the borders of the United States. States create political problems for governments,” says Phil Gunson.

“On the other hand, perhaps to a lesser extent, there is also the energy issue. In the current conditions, it is assumed that, at a minimum, the presence of Western companies, both from the United States and from Europe, will remain in the Venezuelan oil industry. And this is also important from a geopolitical point of view, because no longer push Venezuela into the arms of geopolitical adversaries of the United States, such as the Russians, the Chineseetc.,” the analyst emphasizes.