US May Further Ease Oil-Related Sanctions Against Venezuela - Reports

MOSCOW (UrduPoint News / Sputnik - 18th May, 2022) The Biden administration may further ease oil-related sanctions against Venezuela, if the recently resumed negotiations between the government of President Nicolas Maduro and the US-backed opposition bear fruit, the Washington Post reported, citing unnamed officials.

On Tuesday, the US Treasury Department issued a narrow license authorizing US energy corporation Chevron to negotiate future activities in Venezuela with the Maduro government, a senior Biden administration official told reporters. At the same time, the license did not allow entry into any agreement with Venezuelan oil company PDVSA or any other activities involving PDVSA or Venezuela's oil sector.

According to the Washington Post, the license marked only the first step in a series of measures to ease oil-related sanctions against Caracas, if the Maduro administration demonstrates its desire to cooperate.

In particular, if negotiations with the US-backed opposition bear fruit and guarantee fair 2024 presidential election in Venezuela, Washington may allow Chevron to supply equipment to the country, extract and sell Venezuelan oil, the newspaper reported, citing the officials.

Earlier in the day, Venezuelan National Assembly President Jorge Rodriguez held the first meeting since October 2021 with opposition delegation leader Gerardo Blyde, thus resuming negotiations between the official authorities and the US-backed opposition to lead the country out of the crisis.

Previous talks between the official Caracas and the US-backed opposition were interrupted in October 2021 after Venezuelan diplomat Alex Saab, who was a member of the Maduro government's delegation at the negotiations, was extradited to the US.