The United States is prepared to grant Chevron a license to pump oil in Venezuela as early as this weekend, pending the resumption of long-suspended political talks between the Venezuelan government and the country’s opposition in Mexico City this weekend.
The news, reported by Reuters, would ease sanctions on Venezuela’s authoritarian regime and could pave the way for other U.S. oil-service companies to do business in the country.
The discussions will be facilitated by Norway and will include the prospect of holding free and fair presidential elections in 2024, the status of hundreds of political prisoners, and the possibility of implementing more than $3 billion in Venezuelan government funds, currently frozen by the U.S., for humanitarian aid, according to Reuters.
The new permit would allow Chevron to operate in Venezuela under a sanctions framework similar to the one it had in 2019, which allowed it to trade its Venezuelan crude to recoup billions in pending debt. The U.S. Treasury Department and State Department, which would both need to sign off on any expansion of licensing terms for Chevron, did not respond to the Washington Examiner’s request for comment.
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