U.S. authorizes Chevron to resume limited extraction operations in Venezuela

The U.S. government has announced that it will authorize Chevron oil company to resume its extraction operations in Venezuela in a “limited” manner after the signing this Saturday in Mexico of the agreement between the government and the opposition to collaborate in the social development of the country, in exchange for the unfreezing of assets blocked by U.S. sanctions.
“The Treasury Department’s Office of Foreign Assets Control (OFAC) issued Venezuela General License (GL) 41, which authorizes Chevron Corporation to resume limited natural resource extraction operations in Venezuela,” the U.S. Treasury Department said in a statement.
“This action reflects U.S. policy to provide targeted sanctions relief based on concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy,” the U.S. Treasury adds.
“The announcements by the opposition United Platform and the Maduro regime are important steps in the right direction to restore democracy in the country. The United States welcomes and supports the reopening of negotiations,” the statement said.