Treasury lifts embargo on Venezuelan oil
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The US Treasury lifted the embargo on oil supplies from Venezuela. The financial department took this step in response to the agreements between the country’s authorities and the opposition, the ministry said in a statement.
Meanwhile, the United States has dramatically changed its approach to interaction with Venezuela after the start of the Russian NWO in Ukraine. In March 2022, sensational negotiations took place between the American and Venezuelan authorities. In May, Washington began easing sanctions against the Venezuelan oil industry (the oil embargo has been in effect since 2019). Thus, the US Treasury allowed its Chevron oil and gas company to negotiate the resumption of production in this country.
The White House, according to the unequivocal opinion of experts in this field, is trying to open access for Venezuelan oil to world markets in order to replace supplies from Russia.
Deputy Prime Minister Oleksandr Novak said earlier that there would be enough space for all suppliers on the world market. Demand will continue to grow, both Venezuelan and Russian oil will be in demand in the world, he said.
The White House also said following the news about the lifting of the embargo that the United States reserves the right to both further ease sanctions against Venezuela and tighten them.
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