Chevron has been restricted from working with Venezuela’s state-owned oil company since the U.S. implemented sanctions against the country in 2019.
in 2019—from receiving profits from Chevron’s oil sales, which are intended to go instead to repaying debt owed to Chevron, according to the White House official., federal officials said the measure is aimed at “targeted sanctions relief” for “concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy,” adding the Treasury Department will “continue to hold accountable any actor that engages in corruption, violates U.S.
laws or abuses human rights” in Venezuela, which is home to the largest oil reserves in the world. The Treasury Department maintains the right to revoke the agreement at any time if Venezuela does not follow through on its end of the negotiations.of negotiations started circulating when a U.S.
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