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The logo aof Venezuelan state oil company PDVSA is seen on a fuel tank truck, in Caracas, Venezuela May 14, 2025. REUTERS/Leonardo Fernandez Viloria/File Photo
The logo aof Venezuelan state oil company PDVSA is seen on a fuel tank truck, in Caracas, Venezuela May 14, 2025. REUTERS/Leonardo Fernandez Viloria/File Photo
US treasury issues license waiving sanctions on Venezuela’s PDVSA
March 18 (Reuters) – The United States has issued a general license authorizing certain deals involving Venezuela‘s state oil company PDVSA, the U.S. Treasury Department said on Wednesday.
The waiver to sanctions that President Donald Trump imposed on PDVSA in 2019 during his first term was the latest move by the administration to ease measures on Venezuela after U.S. forces seized President Nicolas Maduro in January.
The impact of the waiver was not immediately certain as Venezuela’s oil sales are now being managed by the U.S. with proceeds deposited in U.S.-controlled accounts and then being distributed to Venezuela’s interim government.
Trump is trying to get energy companies to invest $100 billion in Venezuela’s dilapidated oil business, which has suffered from years of neglect, corruption and U.S. sanctions.
(Reporting by Bhargav Acharya in Toronto and Timothy Gardner in Washington; Editing by Katharine Jackson and Chizu Nomiyama)
