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US could ease Venezuela sanctions, allow Chevron to pump oil: WSJ | Energy


The report said the Biden administration is preparing to ease sanctions if Caracas takes steps towards restoring democracy.

The United States is considering easing sanctions on Venezuela so that Chevron Corp can pump oil into the country if Caracas takes steps toward restoring democracy, the Wall Street Journal reported.

Under the proposed deal, the Biden administration would ease some sanctions in exchange for Venezuelan President Nicolás Maduro’s resumption of talks with the political opposition on the necessary conditions for holding elections. free and fair by 2024, the newspaper reported on Wednesday, citing people familiar with the proposal.

According to the report, US officials said the deal has not been finalized and could fail if Maduro’s government does not resume talks with opposition parties.

The agreement will pave the way for Chevron and US oil service companies to continue exporting Venezuelan oil to the global market amid soaring energy prices worldwide.

Energy experts have warned that Venezuela’s oil supplies could have a limited effect on prices as the country’s output has plummeted after years of economic crisis, mismanagement and sanctions. .

Venezuela’s oil industry has been subject to tough US sanctions since 2019, when the Trump administration and Western allies declared opposition leader Juan Guaidó the country’s legitimate leader. water later vote marred by allegations of voter fraud.

White House National Security Council spokeswoman Adrienne Watson on Wednesday said the administration has no plans to change its sanctions policy “without constructive steps” on Maduro to restore democracy.

“Our sanctions policy against Venezuela remains unchanged. We will continue to implement and enforce our Venezuela sanctions,” Watson said in a statement following the Wall Street Journal report.

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