Chevron Out, Black Market In? The Fallout of U.S. Sanctions on Venezuela

On 26 February, U.S. President Donald Trump announced his intention to end General License 41, which allowed Chevron to operate in Venezuela despite sanctions. Meanwhile, there are other “specific licenses” for oil and gas companies at risk. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) had created a system to monitor at least part of Venezuela’s oil industry by waiving sanctions for certain American, European, and Indian companies but with strict limitations. Four corporations that were authorized by licenses…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com