U.S. Opens Venezuela Oil Trade
Treasury Department authorities rolled out General License 49 and General License 50 in a coordinated announcement. General License 49 grants authorization for the negotiation and execution of contingent contracts covering specific investments within Venezuela, while General License 50 permits transactions tied to petroleum and natural gas operations throughout the South American nation.
The sanctions relief comes on the heels of significant legal transformations inside Venezuela and the detention of former President Nicolás Maduro.
The Treasury Department emphasized its ongoing efforts to recalibrate its sanctions framework concerning Venezuela.
Both measures took effect Friday starting at 0800GMT, according to departmental officials.
The U.S. government preserved its discretionary power to withdraw or modify these licenses depending on adherence to requirements and evolving policy considerations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
