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Oil sales from Venezuela to continue indefinitely, sanctions will be reduced, CNBC reports
FILE PHOTO: Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo
FILE PHOTO: Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo
Oil sales from Venezuela to continue indefinitely, sanctions will be reduced, CNBC reports
Jan 7 (Reuters) – Oil sales from Venezuela to the United States will continue indefinitely and sanctions will be reduced, CNBC reported on Wednesday, citing sources close to the White House.
The U.S. will acquire more than 50 million barrels of oil from Venezuela, CNBC said.
CNBC said the 50 million barrels were only the first tranche, with sales expected to continue indefinitely, and that U.S. sanctions on Venezuela would be rolled back as part of the deal.
Reuters could not independently verify the report. The White House and U.S. Department of Energy did not immediately respond to a request for comment.
President Donald Trump on Tuesday unveiled a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been stuck in Venezuela under U.S. blockade, in a further sign that Washington is coordinating with the Venezuelan government since capturing President Nicolas Maduro in a raid last weekend.
(Reporting by Nilutpal Timsina in BengaluruEditing by Tomasz Janowski)
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