XPost: soc.culture.usa
Mérida, April 22, 2020 (venezuelanalysis.com <javascript:textise('
https://venezuelanalysis.com')>) - The United
States Treasury Department gave California-based oil giant Chevron until December 1 to wind down its operations in Venezuela.
The Treasury’s Office of Foreign Assets Control (OFAC) issued a
temporary license <
https://www.treasury.gov/resource-center/sanctions/Programs/Documents/venezuela_gl8f.pdf>
Tuesday authorizing Chevron transactions and activities “necessary for
safety or the preservation of assets in Venezuela” or “necessary to the wind down of operations, contracts, or other agreements” with Venezuelan state oil company PDVSA.
The US multinational is now forbidden from drilling, selling and buying Venezuelan crude, or transporting it. Infrastructure work such as
repairing oil wells is allowed only “for safety reasons,” while dividend payments to PDVSA are likewise prohibited.
The latest measures also apply to oilfield service companies Baker
Hughes, Halliburton, Schlumberger and Weatherford International.
According to Reuters <javascript:textise('
https://www.reuters.com/article/us-venezuela-politics-chevron/u-s-orders-chevron-to-wind-down-venezuela-operations-by-december-1-idUSKCN22400G')>,
the move was seen as a “compromise” in the Trump administration, between those who believe the company leaving would weaken the Venezuelan
government and others who defend keeping a “corporate beachhead” in the country.
https://venezuelanalysis.com/news/14852
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