US allows certain LPG transactions to Venezuela

Thursday, 07. July 2022 18:26

United States Department of the Treasury announced on Thursday that it authorized certain transactions "involving the exportation or re-exportation" of Liquefied Petroleum Gas (LPG) to Venezuela until July 12, 2023.

In mid-May, the Biden administration eased some of the economic sanctions imposed on the Venezuelan oil industry. At that time, the measures allowed Chevron Corp. to negotiate its license with state oil company PDVSA but not to drill or export any oil from the country.

The new measure announced today by the US comes when concerns about oil and gas prices dominate markets' attention.

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Author:
Baha Breaking News (BBN) / JG