The United States is considering removing some of the economic sanctions imposed on Venezuela next week. The objective is to facilitate the sale of oil, said this Saturday, the 10th, the Secretary of the American Treasury, Scott Bessent. The information is from the Reuters agency.
Since the military operation on the 3rd to capture Nicolás Maduro and take him out of the country, the American government has stated that it would control the Venezuelan oil trade.
Among the sanctions on Venezuela, the US banned international banks and other creditors from negotiating with the Venezuelan government without American approval. Venezuela has a debt of US$150 billion with international creditors, which makes new investments in the country difficult.
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The American secretary mentioned the possibility of releasing around US$5 billion in Venezuela’s monetary assets, currently frozen at the International Monetary Fund (IMF) in the form of Special Drawing Rights. The amount would be used to rebuild the country.
Bessent also said that the Treasury is analyzing changes to repatriate revenues from sales of oil currently stored mainly on ships to the South American country.
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The secretary informed Reuters that he should also meet with officials from the IMF and the World Bank to discuss the resumption of commercial relations with the South American country. Bessent said he believes smaller, private companies will move quickly to return to Venezuela’s oil sector.
Previously, US Secretary of State Marco Rubio said that Venezuela cannot transport its oil without permission from American authorities, because they are responsible for controlling the traffic of oil tankers leaving Venezuela. Rubio added that he could not provide a specific date for the resumption of Venezuela’s oil exports.
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US President Donald Trump wants oil giants to invest US$100 billion in Venezuela, as part of a strategy to expand US influence in the region, but there is resistance from some companies. Trump met with company representatives on Friday, 9, at the White House.
