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Oil tanker Kerala, chartered by Chevron, is loaded in the Bajo Grande oil terminal at Maracaibo Lake, in the municipality of San Francisco, Venezuela, January 5, 2023. REUTERS/Isaac Urrutia/File Photo

Oil tanker Kerala, chartered by Chevron, is loaded in the Bajo Grande oil terminal at Maracaibo Lake, in the municipality of San Francisco, Venezuela, January 5, 2023. REUTERS/Isaac Urrutia/File Photo

US, Venezuela to Announce Oil Sanctions Deal

Reuters
Total Views: 1317
October 16, 2023
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WASHINGTON, Oct 16 (Reuters) – The Biden administration and Venezuelan President Nicolas Maduro’s government are expected to announce a deal on Tuesday that would ease U.S. sanctions on Caracas’ oil industry while opening up Venezuela’s 2024 presidential election, the Washington Post reported on Monday.

The Post, citing two people familiar with the talks, said the sanctions relief was expected to be announced after Venezuela signs onto election commitments at a meeting in Barbados.

Venezuela and U.S. envoys have met several times since last year in a renewed effort to solve a long-running political and economic crisis in Venezuela, including discussions on a presidential election, with recent progress indicating fresh oil sanction exemptions, five sources previously told Reuters.

Representatives for the White House and the State Department had no immediate comment on the reported Tuesday announcements. Representatives for Maduro’s government could not be immediately reached for comment.

(Reporting by Katharine Jackson and Susan Heavey; editing by Jasper Ward)

(c) Copyright Thomson Reuters 2023.

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