The US Treasury has authorized operations with the Venezuelan oil company PDVSA

The U.S. Treasury Department has issued a general license authorizing certain transactions with the Venezuelan state oil company Petroleos de Venezuela, S.A. (PDVSA). and its structures. The document was published on the agency's website on March 18.

"Any contract [with PDVSA] must stipulate that it is regulated by U.S. law, and any monetary payments to the blocked person, with the exception of local taxes and fees, must be made to accounts designated by the Ministry of Finance," the document says.

It is clarified that the permit does not apply to transactions related to Venezuelan debt obligations, settlements in cryptocurrency, as well as transactions involving persons under sanctions or with jurisdictions subject to restrictions.

According to the agency's instructions, companies supplying Venezuelan oil or petrochemical products to third countries are required to submit reports to the State Department and the Ministry of Energy indicating the parties, volumes, cost and destinations.

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Does Caracas have the necessary capacity for this and how will Washington look at it?

On March 14, the U.S. Treasury Department authorized a number of operations involving PDVSA related to the supply of oil to the American market. It was clarified that American companies are allowed to carry out standard commercial operations with Venezuelan oil, including its purchase, storage, transportation and processing.

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