The United States on Saturday eased some Venezuelan oil-related sanctions as company Chevron has been allowed to resume some activity in Venezuela.
Certain oil sanctions were eased by the Biden administration to support the negotiations that recently started between President Nicolás Maduro’s government and its opposition.
After more than a yearlong hiatus, crucial talks between the Maduro government and the “Unitary Platform” resumed in Mexico City on Saturday as both sides announced a humanitarian agreement on education, health and other social issues.
The Treasury Department said it would allow Chevron to resume limited oil extraction operations in Venezuela. This comes after years of sanctions aimed at restricting oil and gas profits that have reportedly flowed to Maduro’s government.
Previously, the California-based Chevron and other US companies were given permission again by the Treasury Department to do the basic upkeep of wells it operates jointly with state-run oil giant PDVSA.
As per the new policies, instead of providing profits to PDVSA, the profits from the sale of energy would be directed to paying down debt owed to Chevron.
A senior administration official said of the talks in Mexico that “we join the international community in welcoming the resumption of negotiations.” The official further noted that the accord marked “important steps in the right direction” in Venezuela.
As quoted by the news agencies, Democratic Sen Bob Menendez of New Jersey, chairman of the Senate Foreign Relations Committee, in a statement: “If Maduro again tries to use these negotiations to buy time to further consolidate his criminal dictatorship, the United States and our international partners must snap back the full force of our sanctions that brought his regime to the negotiating table in the first place.”
You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.
