The Ministry of Finance of the United States weakened sanctions against Venezuela and allowed the American Chevron and its “daughters” to produce oil there. A message about this is published on the website of the department.
According to the ministry, this step “will facilitate the suffering of the Venezuelan people and support the restoration of democracy.” Now Washington is seeking to increase oil supplies to the world market to decrease fuel prices. This is especially true after the OPEC+ countries decided to reduce oil production in October.
The Office for Foreign Assets of the US Treasury (OFAC) weakened sanctions against Venezuela, releasing two general licenses. One of them will allow the American Energy Corporation Chevron and its “daughters” to resume operations in Venezuela, which are associated with the production of oil and oil products, as well as the repair and maintenance of oil infrastructure.
It is especially worth cancel that, according to the document, it is impossible to sell Venezuelan oil products anywhere else in addition to the United States and conduct operations with organizations in Venezuela, which belong to Russian companies or controlled by them. The license will be valid for six months.
The second license No. 8K allows some transactions with Venezuelan PDVSA for four companies: Halliburton, Schlumberger Limited, Baker Hughes Holdings and Weatherford International. Transactions are allowed until May 26, 2023, their goal should be “limited maintenance” of the main operations in Venezuela or their termination.
The US Treasury noted that he released licenses on the eve of the negotiations of the Venezuela authorities under the leadership of President Nicholas Maduro with the opposition, which are planned in Mexico.
“Licenses reflect US policy to weaken sanctions in response to specific actions that facilitate the suffering of the Venezuelan people and support the restoration of democracy,” the American Ministry said in a statement.