Lifting of sanctions in exchange for democratic progress in Venezuela

This political solution would not only directly benefit CITGO, but would also have a positive impact on the Venezuelan economy and regional stability.

This approach requires a delicate balance of diplomacy, political engagement, and economic strategies.

1. Internal political dialogue

It seeks an inclusive, transparent dialogue with guarantees for the parties to the conflict. International entities such as the UN and the OAS, as well as friendly countries such as Norway, the United States, and Mexico. They have acted as mediators of the Negotiation Table and Agreements of Venezuela to ensure that the commitments acquired are respected.

2. A clear roadmap for democratic progress

For the progressive lifting of sanctions to be feasible, it is essential to establish a clear and verifiable roadmap for democratic progress, including compliance with the Barbados Agreement signed by the parties on October 17, 2023.

3. International support and economic reconstruction

In exchange for concrete democratic advances, countries and international organizations could offer incentives such as aid for the economic reconstruction and development of Venezuela and the region.

4. Impact on CITGO and the Venezuelan economy

One of the points of the Barbados Agreement was the defense of CITGO. We are awaiting the regime's commitments on this issue. The lifting of sanctions would allow CITGO to operate more freely in international markets and increase its refining capacity with Venezuelan oil. This would mean a substantial increase in oil exports, as well as the opening of foreign investment in Venezuela.

5. Implementation and monitoring

Create implementation and monitoring mechanisms composed of representatives of the Venezuelan opposition, the government, and the international community (such as the Dialogue and Negotiation Table Process on Venezuela), to ensure compliance with the commitments made by both parties.

Learn about other PDVSA Ad Hoc strategies

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Maintain CITGO's transparency and corporate governance
Strengthen the legal strategy to protect CITGO
Diversifying crude oil supply sources