United States 'eases' restrictive measures for US oil companies to operate in Venezuela
Follow us on GOOGLE NEWS. Stay always updated with the latest news, coverage, stories, and analysis directly on Google News.
TL;DR
- US Treasury has eased restrictions for American companies to operate in Venezuela's oil market.
- Licenses allow trading hydrocarbons and using airports and ports, with strict conditions.
- Contracts must be governed by US laws, and disputes resolved in US courts.
- Payments to sanctioned individuals must go to Treasury-designated accounts.
- Companies exporting Venezuelan oil must provide detailed reports to the Trump administration.
- A separate license authorizes "ordinary and necessary" transactions for ports and airports.