US Eases Sanctions, Allows Oil Operations in Venezuela
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Washington, The U.S. Treasury on Jan. 29 this week issued a general license allowing established U.S. entities to engage in specific transactions involving Venezuelan-origin oil, including lifting, exportation, refining and transportation. The authorization does not cover upstream crude production inside Venezuela and excludes dealings with entities linked to Russia, Iran, North Korea, Cuba and certain China-connected firms. The license requires contracts to be governed by U.S. law and bars debt swaps and cryptocurrency payments. Officials said the move aims to expand U.S. investment and increase oil flows while preserving core production sanctions. Based on 6 articles reviewed and supporting research.
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