ALBA-TCP Rejects Reactivation of US Sanctions Against Venezuela

On Thursday, the Bolivarian Alliance for the Peoples of Our America – People’s Trade Treaty (ALBA-TCP) rejected the decision of the United States to revoke operating licenses in the Venezuelan oil and gas industry.

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"Once again, this action makes evident the attitude of the U.S. government in attempting to discretionally use the spurious oil licenses with the aim of extorting the Venezuelan government," ALBA-TCP said through a statement. 

This organization also pointed out that Washington's use of licenses seeks "to influence the Venezuelan sovereign actions and decisions, based on the manipulation of the U.S. unilateral coercive measures, which clearly constitute a flagrant violation of international law."

ALBA-TCP also recognized the efforts of all parties involved in the Venezuelan presidential elections to fulfill the commitments made in the Barbados Agreement, which was signed between the government delegation and the opposition.

"We demand respect for the Venezuelan government and people, reject the interference of the United States in its internal affairs, and demand the lifting of the criminal, illegal and unfair unilateral coercive measures that harm the Venezuelan people," the statement stressed.

Previously, Washington relaxed its sanctions in October 2023, when the U.S. Treasury Department temporarily authorized "General License 44," which allows transactions with the oil and gas sector in the South American country.

Although this license was due to expire on Thursday, President Joe Biden's administration decided to prolong the sanctions, arguing that Venezuela was not respecting Barbados' commitments.

After the renewal of the U.S. sanctions, Venezuelan President Nicolas Maduro responded firmly saying that “there is no sanction or threat that will harm us in our effort to build a productive economic model. We only depend on our work and unity.”