Congressional Research Service Informing the legislative debate since 1914 IN FOCUS Updated January 16. 2024 Venezuela: Overview of U.S. Sanctions Policy Since 2005. the United States has imposed sanctions on Venezuelan individuals and entities that have engaged in criminal, antidemocratic, and/or corrupt actions. The Trump Administration expanded U.S. sanctions beyond individually targeted sanctions to include broader financial sanctions, sectoral sanctions, and sanctions on the government of Nicolas Maduro. Those sanctions failed to dislodge Maduro and contributed to an economic crisis in the country that has prompted 7.7 million Venezuelans to flee. The Biden Administration has sought to leverage sanctions relief to incentivize Maduro to allow presidential elections in 2024 to be as free and fair as possible, but the Venezuelan government has thus far continued to bar opposition primary winner Maria Corina Machado from running. Recent Developments On October 18. 2023. the Biden Administration issued licenses easing energy sanctions on Venezuela through April 2024 after Maduro and the opposition signed the Barbados Accord, which included a roadmap toward holding competitive elections. U.S. officials warned that the licenses could be revoked if the Maduro government did not create a process to allow all barred candidates to run and release wrongfully detained Americans and Venezuelan political prisoners. In late November 2023. the Maduro government announced that candidates barred from office could appeal to the supreme court. Machado appealed; the court