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The US began reimposing sanctions on Venezuela, and a Biden administration source said a rollback of restrictions on the oil industry could be allowed to expire after the South American country's top court upheld a ban on the candidacy of the leading opposition hopeful in presidential elections.
In October, the United States lifted sanctions against Venezuela, an OPEC member, as recognition of an agreement to hold elections this year.
However, that relief was conditional on President Nicolas Maduro's government freeing specific opposition-linked and American inmates and making progress towards lifting restrictions on several opposition individuals.
Though Venezuela in December carried out a prisoner swap, the Maduro-allied Supreme Court on Friday kept in place a ban on opposition candidate Maria Corina Machado, upholding prior findings that she supported the sanctions and a US-backed opposition interim government, which the Maduro government blames for the loss of Venezuelan foreign assets.
In a first reinstatement of sanctions, the Treasury Department said on Monday evening any US entities conducting transactions with Venezuelan state-owned gold mining firm Minerven would have until Feb 13 to wind them down.
The move came hours after a Biden administration official had said the Treasury license that broadly restored dealings with Venezuela's oil industry would be allowed to expire on April 18 if Machado and other opposition figures were not allowed to run.
The official said the US was also considering additional unspecified measures to punish the Venezuelan government.
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