EconomyEnergy
09 October 2023, 5:47 pm 1 minute
Reuters exclusively reported that Venezuela and the U.S. have progressed in talks that could provide sanctions relief to Caracas by allowing at least one additional foreign oil firm to take Venezuelan crude oil for debt repayment if President Nicolas Maduro resumes negotiations with the opposition in Mexico.
Market Impact
Earlier this year, U.S. officials drafted a wide proposal to ease sanctions on Venezuela’s oil sector, which would allow more companies and countries to import its crude if the South American nation moved toward a free election. The proposal included reframing oil sanctions on Venezuela by amending existing U.S. executive orders or issuing new ones so buyers in Europe and other regions could resume imports of Venezuelan oil in a structured, organized way.
Article Tags
Topics of Interest: EconomyEnergy
Type: Reuters Best
Sectors: Commodities & EnergyEconomy & Policy
Regions: Americas
Countries: USVenezuela
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story