Having been shunned by the Saudis (who are now “colluding with Russia to hurt low income countries” according to a White House spokesman this morning on CNBC), President Biden has lurched all the way to negotiating with another “dictator”.
The Wall Street Journal reported Wednesday that the Biden administration proposed a deal that will ease sanctions on Venezuela, allowing Chevron to pump oil in the country after OPEC+ unveiled its largest production cut since COVID (despite Biden’s begging).
“He leads rulers away stripped and makes fools of judges.” Job 12:17 NIV
According to people familiar with the proposal, in exchange for significant sanctions relief (and the potential reopening of US and European markets for Venezuelan crude exports), the government of Venezuelan President Nicolás Maduro would resume long-suspended talks with the country’s opposition to discuss conditions needed to hold free and fair presidential elections in 2024.
Officials have reportedly also worked out a deal that would free up hundreds of millions of dollars in Venezuelan state funds frozen in American banks to pay for imports of food, medicine and equipment for the country’s battered electricity grid and municipal water systems.
Chevron spokesman Ray Fohr didn’t comment on the proposed deal, but said that in Venezuela, “we have dedicated investments and a large workforce who are dependent on our presence.” He said the company is in compliance with the current sanctions framework.