Post #1373

The US Treasury Department emitted a license allowing production, investment and sale in the Venezuelan oil, gas and gold sectors, a move classified by the Venezuelan government as the suspension of sanctions on state-owned oil company PDVSA. On Wednesday afternoon, the Treasury’s Office of Foreign Assets Control (OFAC) issued four six-month licenses “suspending select sanctions.” The announcement came on the heels of an agreement signed Tuesday between the Nicolás Maduro government and the US-backed Unitary Platform in Barbados establishing certain conditions for the 2024 presidential elections. “In response to these democratic developments, the U.S. Department of the Treasury has issued General Licenses authorizing transactions involving Venezuela’s oil and gas sector and gold sector,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson wrote in a statement. https://venezuelanalysis.com/news/venezuela-praises-progressive-sanctions-removal-as-us-treasury-issues-temporary-licenses/