Maduro Regime's Softening Stance Unlikely To Yield Sanctions Relief For Venezuela

• The Venezuelan government has taken a number of steps to adjust its foreign policy in recent weeks, including accepting aid from the World Health Organization (WHO) and the UN and attempting to court the Biden administration in the US.
• These changes are likely aimed at reinforcing the Maduro regime’s hold on domestic power, by further sidelining the opposition and opening the door to sanctions relief.
• However, while engagement with the WHO and UN is likely to continue on some level, significant sanctions relief is not Fitch Solutions’ core view, given that Venezuela is unlikely to meet the US’s demands for electoral concessions.

(Source: Fitch Solutions)