Oil drills in Maracaibo Lake in Venezuela's oil rich Zulia state. The U.S. is renewing sanctions on Venezuela's oil industry. Leslie Mazoch/AP hide caption toggle caption Leslie Mazoch/AP World The U.S. renews oil sanctions on Venezuela citing a failure to allow fair elections April 17, 2024 • The Biden administration will reinstate sanctions on Venezuela's oil and gas sector, accusing the government President Nicolás Maduro of failing to commit to "an inclusive and competitive election."
