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NEU Senior Regional Support Officer
Washington eases restrictions on Venezuela to allow oil trade as world prices rocket
A cash register drawer holds Bolivars and US currencies at a shop in Caracas, Venezuela, Friday, May 13, 2022

WASHINGTON has eased some restrictions on Venezuela allowing for US oil company Chevron to carry out potential activities in the Bolivarian country, it was announced on Tuesday. 

“[The US] Treasury, with guidance from the State Department, issued a limited licence authorising Chevron to negotiate the terms of possible future activities in Venezuela. 

“It does not allow them to enter into any agreements with PDVSA or any other activities involving PDVSA (Petroleos de Venezuela) or the Venezuelan oil sector. So, fundamentally, what they are doing is just allowing them to talk,” a senior official told reporters. 

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