US to ease some energy sanctions on Venezuela – CNN

by | May 17, 2022 | Energy

The first step, to be announced on Tuesday, will allow Chevron — the last major US oil company still operating in Venezuela — to negotiate its license with state-owned oil company PDVSA to continue operations in the country, the officials said.The US has for months been in talks with the Venezuelan government and opposition leader Juan Guaidó about moving toward a political settlement following Maduro’s contested election victory in 2019, which the US did not recognize as legitimate.The decision to ease some US energy sanctions on Venezuela came at the request of the country’s opposition, a senior administration official said, as it looks to return to negotiations with the Maduro regime.The US will continue to calibrate its sanctions policy toward Venezuela — either by strengthening or alleviating sanctions — “on the basis of ambitious, concrete and irreversible outcomes that empower the Venezuelan people to determine the future in their country through democratic elections,” the official said.While the US is now allowing Chevron to negotiate its license with state-owned oil company PDVSA, it is not allowing entry into any agreement. “Fundamentally, what they’re doing is just allowed to talk,” the official said.The US has also been looking for ways to allow Venezuela to begin producing more oil and selling it on the international market, thereby reducing the world’s energy dependence on Russia, officials told CNN. But the easing of sanctions in any realm will only happen as Maduro continues to hold substantial discussions with the opposition, the officials emphasized.The administration took the steps on Tuesday “in full coordination” with Guaidó and his interim administration, which the US recognizes as the rightful leadership of Venezuela, one official said. Before sanctions relief goes any further, the US will have to see meaningful progress in the political di …

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