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On October 18, the Biden administration unveiled the landmark Barbados agreement signed in conjunction with the Venezuelan government and opposition. The agreement authorises six-month licenses for oil and gas transactions, dealings with Venezuela’s state-run gold mining firm, Minerven, plus the lifting of a trading ban on certain sovereign bonds, equity, and debt from Venezuela’s state oil-firm, PDVSA. In exchange, Caracas agreed to lift bans on opposition candidates, allow foreign electoral ob

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