Venezuela's Maduro Calls For 'complete Lifting' Of Oil Sanctions

Caracas, (UrduPoint / Pakistan Point News - 1st Dec, 2022 ) :President Nicolas Maduro on Wednesday called for the total lifting of US sanctions on Venezuela's oil industry, after a slight easing of the embargo against his country.

He told a press conference that Washington's decision to grant energy giant Chevron a license to resume some oil operations was a step in the "right direction, even though they are not enough for what Venezuela demands, which is the complete lifting" of sanctions against its oil industry.

The US eased the curbs on Chevron's operations after Maduro's government on Saturday signed a broad social accord with the opposition as the two parties resumed formal negotiations for the first time in over a year.

The deal paves the way for the United Nations to oversee a trust fund of frozen assets of the Maduro government to be used for a variety of social projects in the South American country, including programs related to education, health, food security, flood response and electricity.

The US Treasury Department said the accord marked "important steps in the right direction to restore democracy" in Venezuela, as it announced the six-month license to Chevron Corp.