THE US and Venezuelan governments struckan agreement earlier this week under whichthe administration of US President Joe Bidenwill ease sanctions on Venezuela's oil sector inexchange for Venezuelan President Nicol谩sMaduro's commitment to hosting a fair, internationallymonitored election next year, the...
NEW YORK (AP) — The Trump administration has imposed sanctions on Venezuela's state-owned oil company, Petroleos de Venezuela SA, its harshest economic punishment to date against the government of President Nicolas Maduro, whom the U.S. and other countr
CARACAS - Venezuela on Tuesday confirmed a decision by the United States to ease oil sanctions, calling for a total lifting of the US sanctions on the South American country. "The Bolivarian Government ofVenezuelahas verified and confirmed the news ... that the United States of America has aut...
“The United States reiterates that the exploitation of Venezuela’s oil assets for the benefit of the illegitimate regime of President Nicolás Maduro is unacceptable, and those that facilitate such activity risk losing access to the US financial system,” the authority warns. Treasury secretary Ste...
The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said. In November, Washington issued a six-month license allowing Chevron Corp...
Venezuela's oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports, according to data and internal shipping documents.
In October, the Biden administration lifted general economic sanctions targeting Venezuela's mining and oil industries, in support of an agreement struck in Barbados between Maduro and the opposition to hold free and fair elections in 2024.
Washington has no immediate plans to ease sanctions against Venezuela's oil sector or change its policy of forcing the country's president, Nicolas Maduro, to agree to a new election, a senior US official said today. President Joe Biden's administration also will continue to prohibit oil-for-...
The US Treasury Department imposed a de facto oil embargo against Venezuela in late January, forbidding US companies from dealing with PDVSA and freezing Venezuelan assets in the US, chief among them US-based PDVSA subsidiary CITGO. On Thursday, the Treasury’s Office of Foreign Assets Control (...
Venezuela has the world’s largest proven oil reserves but production has plummeted for the past decade as a result of a drop in prices, mismanagement and the U.S. sanctions. Its presence in the world oil market is today marginal and any attempt to boost production would take time to...