US broadly eases Venezuela oil sanctions after election deal
Thursday, 19 October 2023 The Biden administration has eased sanctions on Venezuela's oil sector in response to a deal reached between the government and opposition parties for the 2024 election. The new general license allows Venezuela to produce and export oil without limitations for six months. However, the US has given President Nicolas Maduro until the end of November to lift bans on opposition presidential candidates and release political prisoners. The US moves signal a shift in engagement with Maduro's government compared to former President Trump's approach. The sanctions relief could attract investment in Venezuela's troubled oil sector.
The Biden administration has suspended some sanctions on the Venezuelan oil industry thanks to Maduro's (ever-so) slight easing of political restrictions. While this may pump some air back..
Shipping Companies Face, US Sanctions for Violating , Russian Oil Price Cap.
On October 12, the United States Treasury Department
announced that it has approved sanctions on two
companies that..
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On October 18, 2023, the Department of Treasury's ("Treasury") Office of Foreign Assets Control ("OFAC") issued six general licenses easing sanctions on... Mondaq
Exemptions to US sanctions on Venezuelan oil exports are unlikely to lead to a significant increase in crude production in the country. Instead, the exemptions... IndiaTimes
On October 18, 2023, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") took action to relax certain U.S. sanctions on Venezuela in... Mondaq
Thursday, 19 October 2023
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