On a Saturday, the United States government announced that Chevron will be allowed to maintain limited natural resource activities in Venezuela as part of a broader resumption of dialogue between the Venezuelan government and the opposition. The decision marks a cautious step in a long-running policy that seeks to balance pressure with concrete moves toward dialogue and democratic restoration.
According to the Treasury Department, this measure reflects the United States commitment to a targeted sanctions policy. The aim is to provide relief where it helps ease the suffering of the Venezuelan people while encouraging a return to democratic norms. The department emphasized that the relief targets concrete steps and specific activities that align with these goals.
The Treasury notes that the mandate focuses on the Venezuelan state oil company PDVSA and its dealings with Chevron within joint ventures in Venezuela. The policy permits only activities related to those joint ventures, and it does not authorize broader operations with PDVSA outside the Chevron framework.
The statement also makes clear that other sanctions and restrictions currently in place will continue. It adds that the United States will vigorously enforce these sanctions and hold accountable any actor involved in corruption or human rights violations in Venezuela, reinforcing the legal framework that supports accountability and democratic norms.
The administration stressed that decision-making on Chevron remains with the parties involved and will be reviewed as negotiations proceed. The aim is to reinforce the dialogue and create space for additional commitments that benefit the Venezuelan people while maintaining pressure on activities that undermine democracy and the rule of law.
The political negotiation table between the Maduro regime and the opposition, officially suspended since October 2021, was reactivated in Mexico City on a recent Saturday. The renewed talks represent a step back onto a path toward constructive engagement and potential normalization of relations, pending adherence to agreed principles.
During the talks, the participating sides signed the Second Partial Agreement on the Protection of the People of Venezuela. The central objective is the recovery of resources blocked in the international financial system, a move seen as essential for the stabilization of the country and the protection of Venezuelans’ livelihoods.
The United States welcomed the reengagement and described the negotiations as important steps toward the peaceful restoration of democracy in Venezuela. A State Department spokesperson indicated that the reopening of dialogue aligns with a long-term policy framework aimed at supporting a democratic transition and the protection of human rights. The statement underscored continued U.S. willingness to support nonviolent, diplomatic avenues to bolster democratic processes in Venezuela.
The Chevron decision authorizes actions needed to manage Chevron and its subsidiaries’ joint ventures, including any arrangements with PDVSA or any entity in which PDVSA holds a controlling interest. This targeted authorization is designed to ensure continued cooperation where it serves the stated objectives and does not broaden the scope beyond the agreed framework. [Citation: U.S. Treasury, Office of Public Affairs, 2024]