US waives sanctions on deals involving Venezuela’s PDVSA

The ​United States has issued a general ‌license authorising certain deals involving Venezuela’s state oil company PDVSA, the US Treasury ​Department said on Wednesday.

The waiver ​to sanctions that President Donald Trump ⁠imposed on PDVSA in 2019 during ​his first term was the latest ​move by the administration to ease measures on Venezuela after US forces seized President ​Nicolas Maduro in January.

The impact ​of the waiver was not immediately certain ‌as ⁠Venezuela’s oil sales are now being managed by the US with proceeds deposited in US-controlled accounts and then ​being ​distributed to ⁠Venezuela’s interim government.

Trump is trying to get energy companies ​to invest US$100 billion in ​Venezuela’s ⁠dilapidated oil business, which has suffered from years of neglect, corruption and ⁠US ​sanctions. (Reuters)