Restart of Venezuela, opposition talks could lead to US sanction relief
By Mayela Armas, Matt Spetalnick and Marianna Parraga
CARACAS/WASHINGTON/HOUSTON (Reuters) -Venezuela's government and opposition plan to resume long-suspended talks on Tuesday, and Washington is ready to ease sanctions if President Nicolas Maduro commits to an internationally monitored election next year, multiple sources said on Monday.
The U.S. has long said it would lift some sanctions in exchange for democratic concessions from Maduro, but the announcement offered the first concrete schedule in nearly a year for government-opposition talks.
President Joe Biden's administration has been shifting toward increasing U.S. engagement with Caracas on issues from energy to immigration to political reform, away from former President Donald Trump's «maximum pressure» campaign.
Initial steps would involve significant but limited sanctions relief for now, possibly removing some restrictions on Venezuela's banking sector, the U.S, sources said, adding that further relaxation would depend on whether Maduro organizes fair elections that meet international standards.
The negotiations, meant to provide a way out of Venezuela's long-running political and economic crisis, will take place in Barbados. Maduro, a socialist president since 2013, is expected to run for re-election but has not yet formalized his candidacy. His government has banned prominent opposition figures from running.
Maduro's representatives and the opposition are expected to sign an election agreement on Tuesday, and the U.S. would quickly follow with authorizations related to Venezuela's oil business, two people in Washington familiar with the matter said on condition of anonymity.
Any U.S. action would come only after an agreement under which Maduro commits to a
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