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US eases sanctions on Venezuelan oil

In return, Venezuela will make its upcoming presidential election more open.
Only if the Venezuelan president ensures that the upcoming presidential election is democratic will the license to sell oil and gas be extended. | Photo: Matias Delacroix/AP/Ritzau Scanpix
Only if the Venezuelan president ensures that the upcoming presidential election is democratic will the license to sell oil and gas be extended. | Photo: Matias Delacroix/AP/Ritzau Scanpix
by METTE GRUBE CONDRUP

The Biden administration has eased some of the sanctions on Venezuela’s oil sector in exchange for the country making the upcoming presidential election more democratic, the US Treasury Department writes in a press release.

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