(Bloomberg) -- The U.S., European Union and Canada said they are “willing to review sanctions policies” against Venezuelan President Nicolas Maduro and his regime provided there are “substantive, credible advancements” in negotiations to restore the democratic process in the South American country.
“A time-bound and comprehensive negotiation process should restore the country's institutions and allow for all Venezuelans to express themselves politically through credible, inclusive and transparent local, parliamentary, and presidential elections,” according to a joint statement released by the U.S. State Department on Friday.
The parties called for the unconditional release of political prisoners, the autonomy of political parties, freedom of expression and the press, and an end to human rights violations.
Maduro, a target of crippling U.S. sanctions under former President Donald Trump, reached out to President Joe Biden's administration in an exclusive Bloomberg News interview last week, calling on him to lift sanctions and normalize relations.
Read More: His Economy in Ruins, Venezuela's Maduro Pleads for Biden Deal
Responding to Maduro's comments in the interview, a State Department spokesman said a U.S. policy shift would require major changes by the Venezuelan leader toward restoring democracy before penalties would be lifted.
Read More: U.S. Rejects Maduro's Call for Biden to Lift Venezuela Sanctions
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