The US Treasury Department will not renew a license that expires on Thursday and which had generally eased oil sanctions against Venezuela.
- Treasury says it has issued a replacement license giving companies 45 days to “wind down” their activities and transactions in the country’s oil and gas sector
- The United States will continue to grant another authorization starting in November 2022, which will allow the oil company Chevron to “resume its limited natural resource extraction operations in Venezuela.”
Sanctions against Venezuela were imposed by the Trump administration in 2019.
Maduro
This article was written by Eamonn Sheridan at www.forexlive.com.
cnbctv18-forexlive
