US Extends License Allowing Chevron, 4 Other Firms To Operate In Venezuela - Treasury
Mohammad Ali (@ChaudhryMAli88) Published October 22, 2019 | 02:00 AM
WASHINGTON (UrduPoint News / Sputnik - 22nd October, 2019) US oil giant Chevron and four other American energy companies have been granted a license to continue operations in Venezuela without getting hit with sanctions for at least three more months, the Treasury Department announced in a press release on Monday.
"All transactions and activities ordinarily incident and necessary to the maintenance of operations, contracts, or other agreements in Venezuela... are authorized through 12:01 a.m. eastern standard time [4:01 a.m. GMT], January 22, 2020," the release said.
The authorization applies to Chevron, Halliburton, Schlumberger Limited, Baker Hughes, and Weatherford International, the release said.
The license allows the companies to do business with Venezuelan state-owned oil giant PDVSA without the threat of US sanctions.
Monday's action represented the second extension of licenses previously set to expire on July 27, according to the release.
The US government has exacerbated Venezuela's economic crisis this year by attempting to shut down the country's oil trade via sanctions. Maduro has accused the United States of attempting to install a puppet government in Caracas so Washington can control Venezuela's natural resources.
Related Topics
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From World
-
Migrant boat capsizes off Djibouti leaving 21 dead
6 hours ago -
Tesla profits tumble 55% as EV sales under pressure
6 hours ago -
Talks on global plastic treaty begin in Canada
7 hours ago -
Migrant deportations loom after parliament passes UK-Rwanda plan
7 hours ago -
Macron in last-ditch bid to halt EU vote battering
7 hours ago -
Ukraine moves to bring military-aged men home to fight
8 hours ago
-
Asia hit hardest by climate change, extreme weather: UN weather agency
9 hours ago -
Muscles and masterpieces: Louvre offers Olympic sport sessions
9 hours ago -
Migrant boat capsizes off Djibouti leaving 16 dead
9 hours ago -
UK Rwanda law sparks fear among migrants hoping to cross Channel
11 hours ago -
China issues highest-level rainstorm warning after deadly floods
11 hours ago -
UK's Sunak announces raised defence spending, new Ukraine aid
11 hours ago