The United States Government on Wednesday suspended sanctions on Venezuelan oil after the country’s President, Nicolas Maduro, reached a deal with Opposition Political Leaders for the country’s Presidential Elections in 2024.
The United States Department of Treasury Office of Foreign Assets Control issued a six-month general license temporarily authorising transactions involving the oil and gas sector in Venezuela.
The Treasury Department also issued a second general license authorising dealings with Minerven – the Venezuelan State-owned gold mining company.
And relevant licenses to remove the secondary trading ban on certain Venezuelan sovereign bonds and PdVSA debt and equity have also been amended.
The United States also expects that Venezuela will begin the release of all wrongfully detained U.S. nationals and Venezuelan political prisoners.
