Maduro Calls on U.S. to Completely Lift Sanctions on Venezuelan Oil Sector
Xinhua News Agency, Beijing, December 1. Venezuelan President Nicolás Maduro said on November 30 that although the United States‘ limited recovery of crude oil exploration in Venezuela is “correct” in direction, it is “insufficient”. Oil industry sanctions.
Maduro said at a news conference on the same day that the U.S. Treasury Department last week approved the resumption of some oil operations in Venezuela by the U.S. oil company Chevron, which was a step in the “right direction.” However, he said that this move “failed to meet the requirements of the Venezuelan side” and “we demand (the US) to completely lift the sanctions on Venezuela’s oil industry”, and the US measures violated international trade rules.
On September 18, 2021, in Mexico City, the capital of Mexico, Venezuelan President Maduro delivered a speech at the Sixth Community of Latin American and Caribbean States Summit.Published by Xinhua News Agency (Photo provided by Venezuelan News Agency)
Given Venezuela’s status in international energy markets, “the idea of removing Venezuela from the world economy is a bad idea,” Maduro said, and the U.S. is paying the price.
Maduro also demanded that the U.S. return the assets of Petroleos de Venezuela’s branch in the U.S., Citgo Petroleum, including the $4 billion in dividends distributed by the oil refiner from 2019 to 2022, saying that this is the Venezuelan government’s continued dialogue with the country’s opposition. important” premise.
Maduro won re-election in presidential elections held in May 2018. The United States does not recognize the results of this election, and supports Juan Guaido, an opposition figure who proclaimed himself the “interim president” of Venezuela, in an attempt to overthrow the Maduro government.
On July 5, 2019, people participate in the Independence Day celebration in Caracas, the capital of Venezuela.Published by Xinhua News Agency (Photo by Marcos Salgado)
Venezuela cut off diplomatic relations with the United States in January 2019, and the United States has continued to expand economic sanctions against Venezuela, including prohibiting the import of Venezuelan crude oil and freezing the assets of Venezuelan oil companies in the United States. The U.S. first handed over the assets of Citrogo Petroleum to the Guaido camp, and later in 2019 they were transferred to ConocoPhillips to take over.
The Venezuelan government and opposition representatives held a political dialogue in Mexico City, the capital of Mexico, on November 26. The two sides signed a phased agreement and agreed to set up a fund managed by the United Nations to provide support for Venezuela’s social security projects. Part of the funds required came from Venezuela’s frozen overseas assets.
The U.S. Treasury Department issued a statement on the same day saying that the signing of the agreement between the Venezuelan government and the opposition to establish a fund was an “important step”, announcing the issuance of a license to Chevron Petroleum Corporation, allowing the company to resume limited crude oil exploration operations in Venezuela.
On June 10, in Los Angeles, California, the United States, a protester holds a placard and participates in a parade to protest against the United States’ rejection of the leaders of Cuba, Nicaragua and Venezuela from participating in the Summit of the Americas.Xinhua News Agency
Chevron, headquartered in California, is the only U.S. oil company still operating in Venezuela.
Venezuela’s oil reserves are among the largest in the world. The crisis in Ukraine has exacerbated the tension in global energy supply, and to a certain extent, pushed the international community to speed up the resolution of Venezuela’s plight of sanctions. Agence France-Presse interpreted that the United States‘ relaxation of restrictions on Chevron’s operations in Venezuela means that Venezuela is expected to return to the global oil market.
However, the U.S. made it clear that the U.S. will advance the lifting of sanctions against Venezuela only after the Venezuelan government and the opposition reach an agreement on matters related to Venezuela’s 2024 presidential election. (Liu Xi)