Foreign media: US relaxes oil sanctions on Venezuela, US companies will resume production in Venezuela on “limited basis” – Xinhua English.news.cn

Reference News Network reported on November 28 that the Biden administration eased some oil sanctions on Venezuela on the 26th to support newly restarted talks between the country’s President Maduro’s government and the opposition.

The US Treasury Department has allowed Chevron to resume “limited” energy production in Venezuela after years of sanctions cut oil and gas profits for the Maduro government, The Associated Press reported on 26 November. Earlier this year, the US Treasury Department again allowed California-based Chevron and other US companies to carry out essential maintenance on wells it operates jointly with Venezuelan oil company Petroleos de Venezuela.

Under the new policy, profits from energy sales would be used to repay debts owed to Chevron, rather than to Petroleos de Venezuela, the report said.

Talks between the Maduro government and the opposition resumed in Mexico City on the 26th after more than a year of suspension. It remains to be seen whether they will follow a different path to the previous rounds of negotiations. Previous rounds of talks have not completely eased the political situation in the country.

A senior US administration official, speaking on condition of anonymity, said the US would closely monitor Maduro’s commitment to the talks, reserving the right to reimpose tougher sanctions or continue to ease them, depending on how the negotiations progress.

Bob Menendez, chairman of the US Senate Foreign Relations Committee, said: “If Maduro once again tries to use these negotiations to buy time and further entrench his criminal regime, the United States and our international partners must restore full effectiveness our sanctions quickly. .”