The power of sanctions: How a change in approach led to a breakthrough in U.S.-Venezuela relations

By Daniel DePetris

Attempts to end Venezuela’s years-long political crisis took a major step this week after the United States reportedly agreed to a long-sought deal with Venezuelan President Nicolas Maduro.  

According to public reports, the U.S. will partially lift sanctions on Venezuela’s dilapidated oil industry in exchange for several political concessions from Maduro’s government, including scheduling a fixed date for the 2024 presidential elections, allowing opposition candidates to run in those elections and permitting international observers to monitor the entire process. In tandem, talks between Maduro and the Venezuelan opposition will resume after a nearly year-long hiatus. 

This piece was originally published in The Hill on October 19, 2023. Read more HERE.