Foreign media: U.S. relaxes sanctions on Venezuelan oil, U.S. companies will resume production in Venezuela “limited”
Reference News Network reported on November 28 that the Biden administration eased some oil sanctions on Venezuela on the 26th to support newly restarted negotiations between the government of President Nicolas Maduro and the opposition.
The U.S. Treasury Department has allowed Chevron to resume “limited” energy production in Venezuela after years of sanctions slashed oil and gas profits going to Maduro’s government, The Associated Press reported Nov. 26. Earlier this year, the U.S. Treasury Department again allowed California-based Chevron and other U.S. companies to carry out essential maintenance on wells it jointly operates with Venezuelan oil company Petroleos de Venezuela.
Under the new policy, profits from energy sales would be used to repay debts owed to Chevron, rather than to Petroleos de Venezuela, the report said.
Negotiations between the Maduro government and the opposition resumed in Mexico City on the 26th after more than a year of suspension. Whether they will take a different route than previous rounds of negotiations remains to be seen. Previous rounds of talks have not eased the political deadlock in the country.
A senior U.S. administration official, speaking on condition of anonymity, said the U.S. would closely monitor Maduro’s commitment to the talks, reserving the right to reimpose tougher sanctions or continue to ease them, depending on how the talks progress.
Bob Menendez, chairman of the U.S. Senate Foreign Relations Committee, said: “If Maduro once again attempts to use these negotiations to buy time and further entrench his criminal regime, the United States and our international partners must swiftly restore the full effectiveness of our sanctions. “
(Original title: Foreign media: The United States relaxes sanctions on Venezuelan oil, and US companies will resume production in Venezuela in a “limited” manner)