US Eases Sanctions on Venezuela, Allows Chevron to Expand Operations

The United States Department of Treasury is easing sanctions on Venezuela and authorizing a limited license to Chevron to expand energy production operations in the country.

For Context: Venezuela has large reserves of heavy crude oil. The nation is undergoing a humanitarian crisis that has resulted in a quarter of the population immigrating elsewhere, according to the New York Times report. The Biden Administration recently announced a revision to immigration policy for Venezuelan migrants.

The Trump Administration imposed sanctions on Venezuela during a period of political instability in the country. The Trump Administration, along with dozens of other countries, backed Venezuelan opposition leader Juan Guaidó as the legitimate leader. U.S. officials have denied that the easing of sanctions is a response to rising energy costs, instead stating that increased economic cooperation with Venezuela is being done to restore democracy in the South America nation.

Key Quote: A statement from the Department of Treasury said the “action reflects longstanding U.S. policy to provide targeted sanctions relief based on concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy.”

How the Media Covered It: The New York Times called Venezuela President Nicolás Maduro an “authoritarian,” touting “socialist ideals” that “desperately needs to improve the economy.” The Daily Caller called Venezuela a “communist country” and only quoted a critic of the announcement. Newsweek made no mention of the country’s economic ideology.