HomePoliticsBiden gives Chevron permission to restart Venezuelan oil sales

Biden gives Chevron permission to restart Venezuelan oil sales

Under the expanded license issued by the Treasury’s Office of Foreign Assets Control, the Venezuelan state oil company, PdVSA, is prohibited from receiving profits from oil sales generated by its joint venture with Chevron. Maintains broader sanctions against PdVSA.

The measures by the Maduro regime in Venezuela to restart talks with the opposition “are important steps in the right direction to restore democracy in the country,” the Treasury Department said, which the United States welcomes “as part of our policy longstanding to support the peaceful restoration of democracy, free and fair elections, and respect for the rights and freedoms of Venezuelans.

Venezuela sits on some of the world’s largest oil reserves, but government mismanagement of the oil sector and US-imposed sanctions have drastically reduced its exports.

Senator Bob Menendez (DN.J.), chairman of the Senate Foreign Relations Committee, welcomed the move but warned Caracas to follow through on its new promises.

“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 reverse the full force of our sanctions that brought his regime to the negotiating table in the first place,” Menéndez said. . he said he in a statement.

Chevron, which has maintained a presence in Venezuela during the US-imposed sanctions, said it had received the permit.

“We are determined to remain a constructive presence in the country and continue to support social investment programs aimed at providing humanitarian aid,” Ray Fohr, a Chevron spokesman, said in a statement.

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