Biden’s controversial decision to prioritize oil interests over democracy in Venezuela

The Biden team is selling out Venezuela’s democratic opposition.

After months of secret negotiations, in October the Biden administration suspended many US sanctions on the South American dictatorship.

The oil and gas sector and gold mining, both critical to regime revenue, were freed from sanctions by a license to operate for an initial six months.

There were two goals, Team Biden said: to free American hostages the Maduro regime holds and to induce the regime to allow free elections in 2024.

The hostage exchanges have taken place.

Venezuela released several Americans it had unjustly jailed.

The Biden administration released Alex Saab, a key money launderer for the regime who had been captured in Cape Verde (while in transit to Iran) in 2020 and extradited to the United States.

Saab was charged with stealing hundreds of millions of dollars.

President Biden granted him clemency, arguing that freeing the Americans was worth the deal.

But the administration has simply abandoned the other part of the sanctions suspension: moving toward free elections and restoring democracy in Venezuela.

When the democratic opposition held its primaries last year, Maria Corina Machado won a huge landslide and should therefore be the opposition candidate.

If there were a free election this year, most observers believe she would win — handily.

One poll found support for President Nicolas Maduro at 17%, while Machado had 60%.

One small catch: There will not be a free election.

The regime continues to say she is ineligible to run, barring her in June from public office for 15 years.

The State Department said at the time the “decision to disqualify Maria Corina Machado from participating in the electoral process deprives the Venezuelan people of basic political rights.”

When lifting sanctions in October, the State Department said it had “conveyed our expectation and understanding that Venezuela will take the following steps before the end of November,” and one was that Machado had to be allowed to run.

Venezuela must “define a specific timeline and process for the expedited reinstatement of all candidates. All who want to run for President should be allowed the opportunity, and are entitled to a level electoral playing field.”

Then came the threat: “Failure to abide by the terms of this arrangement will lead the United States to reverse steps we have taken” — “The license will be renewed only if Venezuela meets its commitments under the electoral roadmap.”

The regime has taken no steps toward free elections and keeps repeating that Machado can’t run, but the sanctions haven’t been reinstated.

For democratic activists who oppose the dictatorship, the meaning is clear: This was an idle threat.

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