The transfer of oil from Venezuela In Europe, two European oil companies are expected to start in July, the Italian ENI and the Spanish REPSOL. The aim is to cover the quantities that will disappear from the European market due to of the embargo on Russian oilfive informed imgs told the Reuters news agency.
The oil shipment to pay off Caracas’s debts will be repeated two years after their suspension, when the US had escalated sanctions on the Latin American country, as part of the so-called “maximum pressure” campaign on the Socialist president’s government. Nicolas Maduro.
The quantities of oil that the two European companies will be allowed to transport are not very large and the impact of the development on world oil prices will not be spectacular, one of the imgs discounted. However, Washington’s green light for the resumption of crude oil transportation has symbolic, if nothing else, significance for Maduro’s government.
The State Department approved the transfer in letters last month to the two European companies, always according to Reuters imgs. The government of US President Joe Biden wants Venezuela’s crude to help reduce Europe’s dependence on Russia for energy supplies and at the same time reduce sales to China. Another goal is to boost talks between President Maduro’s government and the opposition, according to two Reuters imgs.
The key term is oil “to go to Europe”, “can not be resold elsewhere”, insisted one of the imgsas relayed by the Athenian News Agency.
Washington believes that the Venezuelan public oil company, PdVSA, will not make any profit from these transactions, which will be made without payment, unlike the sales of Caracas in Beijing, according to the same img.
China has not imposed sanctions on Russia over its invasion of Ukraine and continues to buy oil and gas from Moscow, despite US calls.
About 70% of Venezuela’s oil sales today go to China’s refineries.
Although the State Department’s moves were made last month, details and restrictions have not been made public. Neither ENI nor REPSOL wanted to comment when contacted by Reuters.
Last month, Venezuelan Vice President Delsi Rodrεςguez said on Twitter that she hoped the US move would “pave the way for the complete lifting of illegal sanctions that affect all of our people.”
The day before yesterday, President Maduro welcomed Washington’s “small but important measures”.
Mr Biden’s government sent an official to Caracas in March. Mr Maduro’s government has since released two of the 10 Americans imprisoned for various reasons in the country, and has vowed to resume talks with the opposition on holding elections. The date they will be made has not been set yet.
Biden’s administration’s moves toward Venezuela, however, are already being criticized by Republicans – and some Democrats – politicians.
The US official, however, stressed that Washington’s policy towards Venezuela has not changed: sanctions will only be “relaxed” if progress is made towards “democratization” and “free” elections are held, otherwise “they will become tougher” again.
Last month, the Biden government allowed Chevron, the largest U.S. oil company still in Venezuela, to begin talks on future activities with the Maduro government.
Source: News Beast
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