US to ease sanctions on Venezuela for oil production

The administration of U.S. President Joe Biden is preparing to ease sanctions on Venezuela to allow energy company Chevron Corp. to resume oil production. This would help create US and European markets for oil exports from Venezuela, Wall Street Journal sources said

 

US to ease sanctions on Venezuela for oil production

According to the Wall Street Journal, in return for a significant easing of sanctions, the government of Venezuelan President Nicolas Maduro will resume long-stalled talks with the country’s opposition to discuss the conditions necessary for a free and fair presidential election in 2024.

It is also noted that the US, the Venezuelan government and some Venezuelan opposition figures have already worked out an agreement that would free hundreds of millions of dollars of Venezuelan public funds frozen in US banks to pay for the import of food, medicines and equipment for the country’s worn-out electricity grid and municipal water systems.

However, Delcy Rodriguez, executive vice president of the Bolivarian republic, accused the US of interfering in a territorial dispute between Venezuela and Guyana.

The politician wrote on her social media account that Venezuela does not accept US government interference in the Guyana-Essequibo territorial dispute. Rodriguez said this is how the US seeks to strengthen its energy hegemony and the hegemony of its multinational companies. She added that undue pressure in violation of international law was unacceptable.