Beatrice Murch
The US President Joe Biden administration has generally loosened sanctions against Venezuela, which includes the country's oil and gas industry. The U.S. Treasury Department released a statement in response to the deal made by the Venezuelan government and opposition on elections in 2024, Reuters writes.
The US Treasury Department relaxed a ban on secondary trade and gave broad licenses that permit transactions involving Venezuela's gold, gas, and oil sectors in response to "democratic developments." The ministry further stated that should President Nicolas Maduro's delegates break the terms of the agreement with the opposition, it might reconsider its choice.
Among the modifications are a general license permitting transactions with Minerven, Venezuela's state-owned gold miner, and a six-month general license for the oil and gas industry. Certain government bonds issued by Venezuela as well as the debt and equity commitments of the national oil corporation PDVSA are no longer prohibited from secondary trading. According to the U.S. Treasury Department, trading in Venezuelan bonds on the primary market is still prohibited.
source: reuters.com
The US Treasury Department relaxed a ban on secondary trade and gave broad licenses that permit transactions involving Venezuela's gold, gas, and oil sectors in response to "democratic developments." The ministry further stated that should President Nicolas Maduro's delegates break the terms of the agreement with the opposition, it might reconsider its choice.
Among the modifications are a general license permitting transactions with Minerven, Venezuela's state-owned gold miner, and a six-month general license for the oil and gas industry. Certain government bonds issued by Venezuela as well as the debt and equity commitments of the national oil corporation PDVSA are no longer prohibited from secondary trading. According to the U.S. Treasury Department, trading in Venezuelan bonds on the primary market is still prohibited.
source: reuters.com
