US considering new visa curbs, oil sanctions on Venezuela

28/9/2024 7:17

        The U.S. is closely studying imposing new sanctions on individuals in Venezuela as well as potentially revoking licenses for oil companies working there, a
        senior U.S. official said on Friday, in response to what it dubs a fraudulent election result.
        
        Brian Nichols, the top U.S. diplomat for Latin America, made the remarks during a webcast briefing with reporters, two months after Venezuela's bitterly disputed July 28 presidential election.
        
        "The use of either individual sanctions or the revocation of licenses related to sectoral sanctions are something that we're studying very closely," said Nichols, after he was asked about the possibility of imposing new visa restrictions on individuals as well as terminating existing oil licenses.
        
        OPEC-member Venezuela is one of Latin America's major oil producing countries, but its crude output has fallen sharply during Maduro's more than decade in power, mostly due to under-investment as well as five years of U.S. sanctions on the industry. The country's oil production has slightly rebounded in recent years.