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The US eased sanctions against Venezuela's oil and gas sector

October, 19 2023
watermark Economic news

The United States has decided to temporarily suspend sanctions against Venezuela's oil and gas sector. 


This decision was made after the conclusion of an agreement between the Venezuelan government and the opposition on preparations for new presidential elections. The US Treasury announced the suspension of sanctions for six months.


This decision lifts restrictions on transactions with Venezuelan oil and gas, and also allows transactions with the Venezuelan gold mining company Minerven. 


In addition, the ban on secondary trading of some Venezuelan government bonds, as well as shares and bonds of the state-owned company Petroleos de Venezuela SA, has been lifted. However, it is worth noting that the ban on the purchase of Venezuelan bonds on the primary market remains in force.


U.S. sanctions against Venezuela's oil and gas sector have been in effect for four years. The suspension of their operation, according to experts, may lead to an increase in Venezuela's oil production by 200 thousand barrels per day.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.