US State Department warns of renewed Venezuela oil sanctions unless progress made

The United States will not renew an expiring general license for Venezuela's oil and gas sector unless there is political progress between President Nicolas Maduro's government and the opposition, the U.S. State Department said on Tuesday.

The statement comes as Washington begins reimposing sanctions on Caracas, with the Treasury Department on Monday giving U.S. entities until Feb. 13 to wind down transactions with Venezuelan state-owned gold mining firm Minerven.