Venezuela's Supreme Court Upholds Ban on Opposition Candidate, U.S. Reimposes Sanctions

Despite the ban, María Corina Machado vows to defeat Maduro in the 2024 presidential election, while Venezuela's business community expresses concern over the threat of reimposed sanctions.

Venezuela's Supreme Court, aligned with President Nicolás Maduro's government, has upheld a ban on opposition candidate María Corina Machado running for office, sparking international condemnation and the reimposition of U.S. sanctions.
Despite the ban, Machado has vowed to defeat Maduro in the upcoming 2024 presidential election, though a date for the vote has not yet been set.
The U.S. has responded to the court ruling by revoking relief it granted in October to Venezuela’s state-owned mining company, Minerven, and has given Maduro until April to meet conditions of the electoral agreement to avoid losing additional relief.
Venezuela's business community has expressed shock and dismay at the threat of reimposed sanctions, with Fedecamaras, the largest business federation, insisting on the need for a flexibilization of sanctions.
The Biden administration has rejected calls for a return to a campaign of maximum pressure against Maduro, stating that its strategy of calibrating sanctions has produced results, including the release of wrongfully detained Americans in the country and a diplomatic breakthrough in Barbados.