INTERNATIONAL
US authorises US diluent supply to Venezuela oil sector
US eases Venezuela sanctions with a new authorisation allowing payment processing and supporting efforts to revive the nation's oil sector. - REUTERS
WASHINGTON: The U.S. Treasury Department on Tuesday issued a new license authorizing the export and sale to Venezuela of U.S. diluents, a key fuel needed to produce exportable crude oil grades in the OPEC country, according to a document shown to Reuters by an administration official.
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The authorization, which is Washington's second general license granted so far to ease sanctions on Venezuela following the U.S. capture of President Nicolas Maduro last month, supports the administration's policy of recovering Venezuela's oil sector, the document says.
It expressly authorizes processing of payments from Venezuela's government for the authorized transactions.
The U.S. Treasury last week issued a broad license allowing U.S. companies to load, transport, store, sell and refine Venezuelan oil.
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AI Brief
- The US grants a second general license aimed at easing sanctions after Maduro's capture.
- The authorisation allows Venezuela's government to process payments for approved transactions.
- A prior license already permitted US companies to handle and refine Venezuelan oil.
The authorization, which is Washington's second general license granted so far to ease sanctions on Venezuela following the U.S. capture of President Nicolas Maduro last month, supports the administration's policy of recovering Venezuela's oil sector, the document says.
It expressly authorizes processing of payments from Venezuela's government for the authorized transactions.
The U.S. Treasury last week issued a broad license allowing U.S. companies to load, transport, store, sell and refine Venezuelan oil.
Your gateway to global news, insights, and stories that matter.