November 15, 2023

EU extends Venezuela-related restrictive measures for six months

On November 13, 2023, the Council of the EU decided to extend Venezuela-related restrictive measures for a period of six months, until May 14, 2024.  The restrictive measures, which include an asset freeze, a travel ban, and an embargo on arms and equipment used for internal repression, were extended for six months rather than the standard twelve months in response to the October 17, 2023 political agreement signed by the Maduro regime, which the Council welcomed as a positive step towards the restoration of democracy in Venezuela.  The Council also expressed a willingness to ease or reverse these restrictive measures depending on how the situation in Venezuela evolves and how the agreement is implemented, including any progress made towards the unconditional release of individuals that have been unjustly detained in Venezuela, and any changes to Venezuela’s electoral process and judicial institutions that would allow for the freedom of expression, democratic elections, and respect for human and political rights.  The Council intends to reassess the scope of these restrictive measures in six months or as soon as it can confirm that “concrete, sustainable and verifiable progress” has been made to improve the situation in Venezuela.

Council of the EU Press Release