The administration of US President Donald Trump is seeking to expand the scope of facilities for sanctions imposed on the Venezuelan oil sector. The aim of this move is to increase Venezuelan production in light of the current rise in oil prices, which has been exacerbated by the war in Iran.
Available information indicates that the plan includes issuing additional individual licenses, allowing foreign companies to operate in Venezuela without violating US sanctions. In addition, a broader mechanism is being prepared that may allow a greater number of companies to enter the Venezuelan market, but it has not yet been determined whether this mechanism will be a general license or not.
The White House confirmed that the administration has already issued general licenses intended to support progress in the mining and energy sectors, and indicated that further action could be taken if necessary. Among the companies seeking permission to operate in Venezuela are a subsidiary of India’s ONGC Videsh, Sweden’s Maha Capital, and J&F Investments, which is linked to the Brazilian JBS Foods group.
