CARACAS, Venezuela - The U.S. government has decided to partly withdraw the sanctions relief that was granted to Venezuela last year. This move comes after the South American country's highest court blocked the presidential candidacy of opposition leader María Corina Machado. The Department of the Treasury has given companies transacting with Venezuela's state-owned mining company, Minerven, until February 13 to wind down operations.
In October of last year, the Department of the Treasury had allowed transactions with Minerven after President Nicolás Maduro's government agreed to level the playing field ahead of this year's presidential election. However, on Friday, the highest court upheld a ban on Machado's candidacy, dealing a significant blow to the prospect of a free presidential election in Venezuela.
