The US reinstated sanctions on Venezuela's oil industry because of the government's failure to uphold democratic principles before the July elections. President Biden's administration declared it wouldn't renew a license that had eased measures since October, and the sanctions will come back into force in 45 days.

The US Department of State spokesperson Matthew Miller said that Nicolas Maduro hadn't fulfilled commitments under the electoral agreement, which further caused the expiration of General License 44, which temporarily authorized transactions related to oil and gas sector operations in Venezuela.