🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Venezuela's Maduro says election deal with opposition could collapse

Published 01/25/2024, 09:47 PM
Updated 01/25/2024, 09:52 PM
© Reuters. Venezuela's President Nicolas Maduro delivers his annual address to the nation at the National Assembly, in Caracas, Venezuela January 15, 2024. REUTERS/Leonardo Fernandez Viloria

CARACAS (Reuters) - Venezuelan President Nicolas Maduro warned on Thursday that a deal with the political opposition for elections to be held later this year was in danger of collapse, after what he has described as "conspiracies" against him.

WHY IT MATTERS

Last year, the government of Maduro's ruling socialists reached a deal with the political opposition over talks in Barbados to hold elections sometime during the second half of this year.

The deal caused the United States to temporarily ease economically debilitating oil sanctions on the crude-exporting country.

U.S. officials stressed that the relief was dependent on Caracas lifting bans on opponents holding public office, as well as releasing political prisoners and "unjustly detained" Americans.

Venezuela has yet to lift a ban on Maria Corina Machado, the opposition's presidential candidate.

This week, Maduro said "conspiracies" against him and high-ranking government officials were dismantled last year, with nearly three dozen civilians and military personnel detained.

Later, U.S. officials said they were "concerned" about the arrests, which included members of the political opposition.

KEY QUOTES

"Today the Barbados agreements are mortally wounded, they're in intensive care, they were stabbed, kicked," Maduro said in a televised state broadcast.

"Hopefully we can save the Barbados agreements and, through dialogue, reach real overarching agreements through national consensus," he added.

© Reuters. Venezuela's President Nicolas Maduro delivers his annual address to the nation at the National Assembly, in Caracas, Venezuela January 15, 2024. REUTERS/Leonardo Fernandez Viloria

WHAT'S NEXT

The government's arrest of opposition members could put the agreements at risk, and cause the sanctions to snap back. The arrest of opposition figures also threatens Machado's electoral chances, after she formed an alliance on Tuesday to mobilize her campaign.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.