The Biden administration had temporarily lifted sanctions after President Nicolás Maduro agreed to make free elections possible. Now Mr. Maduro has put up barriers to a credible vote.

The United States will reimpose sanctions on Venezuela’s oil and gas sector in response to the Maduro government’s failure to allow “an inclusive and competitive election” to take place.

The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro's failure to meet his election commitments.

U.S. officials say that President Nicolás Maduro has not upheld his end of the bargain to allow free and fair elections.

With Venezuelan oil sanctions set to be reimposed and state-run PDVSA oil company buyers and suppliers under orders to close out transactions in line with sanctions by the end of May, the country is n

By Matt Spetalnick, Daphne Psaledakis and Marianna Parraga WASHINGTON/HOUSTON (Reuters) -The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions,

A tether spokesperson said that it will freeze addresses linked to evading sanctions. Reuters reported earlier this week that Venezuelan oil company PDVSA was using USDT via intermediaries to bypass U.

Venezuela's PDVSA is reportedly planning to speed up crypto adoption in oil transactions after the U.S. Treasury announced it will reimpose sanctions on the country's vast oil sector.

Venezuela's state-run oil company PDVSA plans to increase digital currency usage in its crude and fuel exports as the U.S. reimposes oil sanctions on the country, three people familiar with the plan said.

In response to reports that Venezuela’s state-run oil company, PDVSA, has adopted cryptocurrencies like USDT to manage oil and fuel exports, Tether has announced stringent measures. The company, which issues the stablecoin USDT,