US reimposes sanctions on Venezuela as hope for democracy crumbles

Relief had been granted after president Nicolas Maduro promised to hold free and fair elections this year

The Biden administration has reimposed crushing oil sanctions on Venezuela, admonishing the president Nicolas Maduro's attempts to consolidate his rule just six months after the US eased restrictions in a bid to support now fading hopes for a democratic opening in the Opec nation.

A senior US official, discussing the decision with reporters, said any US company investing in Venezuela would have 45 days to wind down operations to avoid adding uncertainty to global energy markets. The official spoke on the condition of anonymity to discuss US policy deliberations.