U.S. to Restore Venezuela Oil Sanctions if María Corina Machado Remains Banned from Presidential Race

The Biden administration will restore its sanctions on Venezuela's oil sector if authorities continue to uphold a ban on María Corina Machado, the opposition's highest-polling candidate, from running for office, Bloomberg reported on Monday.

Concretely, the U.S. government would let a six-month-long respite on sanctions to expire if the situation continues as it currently is, the outlet reported, citing two people familiar with the considerations, and could consider additional measures to punish the Maduro administration.

Venezuela's Supreme Court ruled on Friday that Machado could not run for public office until 2036. The opposition leader, who last year won an umbrella primary with over 90% of the votes, said she still intends to participate in this year's elections and called the ruling an act of "judicial crime."

"They can't hold the elections without me and the millions of Venezuelans who support us. I have a mandate from the people and we will fulfill it," said Machado on Monday in a rally in Caracas, the Venezuelan capital. "Nicolas Maduro will not choose the people's candidate because the people have already chosen. Period," she added.

Several Latin American countries have criticized the Supreme Court's decision, among them Uruguay, Argentina, Ecuador and Paraguay. The Organization of American States (OAS) and the European Union have done so as well. Regional powerhouses Mexico and Brazil have not put out public statements, same as Chile, Colombia and Bolivia, among others.

The Maduro government, on its end, has accused the opposition of foul play and has not set a date for the elections. Both sides had reached an agreement in Barbados to hold the elections this year, leading to the easing of U.S. sanctions on the country's essential oil industry.

The Biden administration had demanded steps be taken to ensure more free and fair elections and the release of political prisoners alongside "unjustly detained" Americans.

But the Venezuelan government has not continued moving in that direction, with Maduro saying there have been "conspiracies" against him and other high-ranking officials in his administration, noting that more than 30 civilians and military personnel were detained.

Last month, Venezuela authorities arrested opposition member Roberto Abdul, while warrants were out for several people involved in Machado's campaign. Moreover, in October the Venezuelan government slammed the primary election organized by the opposition, calling it a "scam." National Assembly President Jorge Rodriguez said the primary election was fraudulent because voters were not aware of the electoral registry and location of voting centers.