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U.S. Considers Sanctions Relief to Revive Venezuela’s Oil Output

OilPrice · Charles Kennedy · last updated
The U.S. federal government is discussing the removal of some sanctions on Venezuela’s oil industry to make it easier for U.S. companies to boost Venezuela’s oil production under a deal worth $2 billion announced by President Trump earlier this month after the ousting of President Nicolas Maduro. According to unnamed sources who spoke to Reuters, the plan is to issue a general sanction waiver to enable energy companies to return to Venezuela without risking punitive action from Washington. Per the report, there are many who want to…
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