The Biden administration on Saturday eased some oil sanctions on Venezuela in an effort to support newly restarted negotiations between President Nicolás Maduro’s government and its opposition.
WASHINGTON — The Biden administration on Saturday eased some oil sanctions on Venezuela in an effort to support newly restarted negotiations between President Nicolás Maduro’s government and its opposition.
Under the new policy, profits from the sale of energy would be directed to paying down debt owed to Chevron, rather than providing profits to PDVSA. A senior U.S. administration official, briefing reporters about the U.S. action under the condition of anonymity, said that easing the sanctions was not connected to the administration's efforts to boost global energy production in the wake of Russia's invasion of Ukraine and that the decision was not expected to impact global energy prices.
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