The United States allowed American companies to deal with Venezuelan oil

The U.S. Treasury Department has authorized a number of operations involving the Venezuelan state oil company Petroleos de Venezuela, S.A. (PdVSA) related to the supply of oil to the American market. The relevant decision is fixed in the text of the general review published on the website of the United States Department of the Treasury on March 13.

"With the exception of the cases provided for in paragraph (b) of this general license, all operations prohibited by the Regulations on Sanctions against Venezuela are permitted. This includes transactions involving the Government of Venezuela, Petroleos de Venezuela, S.A. (PdVSA), or any entities in which PdVSA directly or indirectly owns a 50% or more stake," the document says.

It clarifies that American companies are allowed to carry out standard commercial operations with Venezuelan oil, including its purchase, storage, transportation and processing. However, such actions are allowed provided that they are aimed at the subsequent import of petroleum products into the territory of the United States.

According to the information provided, persons who are located in or subject to the laws of Russia, Cuba, Iran, North Korea and China are not allowed to participate in any transactions.

The EU continues to develop sanctions packages, despite the problems. What does this mean?

On March 12, the U.S. Treasury Department suspended the sale of oil and petroleum products from the Russian Federation for a month. The permit applies only to the purchase of oil and petroleum products from Russia that were loaded onto ships as of March 12.

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