U.S. gives green light to Chevron to pump oil in Venezuela
The U.S. federal government on Saturday granted petroleum company Chevron a limited license to resume pumping oil in Venezuela, marking the potential first step in ending a years-long embargo of Venezuelan oil production by the United States.
In a press release, the Treasury Department said it had authorized Chevron to resume "natural resource extraction operations." The oil conglomerate is the last remaining American petroleum company in Venezuela, but had been barred from pumping due to U.S. sanctions against the authoritarian government of Venezuelan President Nicolás Maduro.
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Chevron may now resume activity in its oil fields alongside a joint venture with the Venezuelan national oil company, Petroleos de Venezuela SA.
"We have long made clear we believe the best solution in Venezuela is a negotiated one between Venezuelans," an anonymous Biden administration official told The Washington Post. "To encourage this, we have also said we were willing to provide targeted sanctions relief." However, the official added that additional action would require more "concrete steps," including the release of political prisoners and allowing United Nations humanitarian missions into Venezuela.
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