US government pulls some of Venezuela’s sanctions relief

The U.S. government on Monday pulled back part of the sanctions relief it granted Venezuela last year, following through on its threat after the South American country’s highest court blocked the presidential candidacy of an opposition leader.
The Department of the Treasury gave companies transacting with Venezuela’s state-owned mining company until Feb. 13 to wind down operations. The department had allowed transactions with the mining company in October after President Nicolas Maduro’s government agreed to level the playing field ahead of this year’s presidential election.
On Friday, however, the prospect of a free presidential election was dealt a heavy blow when the country’s highest court upheld a ban on the candidacy of Maria Corina Machado, a longtime government foe and winner of the primary held by the U.S.-backed opposition faction.