US EditionU.S. Extends License Protecting Venezuela-Owned Citgo From Creditors
- On Monday, tanker Folegandros and an LPG tanker departed Venezuela, signaling a return to normal international trade as exports rose to 800,000 barrels per day in January from about 500,000 in December.
- Last week, OFAC opened a general license allowing oil trade if payments move into designated U.S. Treasury accounts, with Rubio describing the arrangement as temporary.
- Major traders Vitol and Trafigura stepped in to buy bottled-up crude as Mercuria and AD Commodities filed for U.S. Treasury licenses, while proceeds were routed through a Qatari bank account, Rubio said.
- Creditors and plaintiffs present a legal risk to incoming funds as Venezuela urgently needs cash to pay public servants, but court judgments could seize U.S.-jurisdiction funds worth hundreds of millions.
- Transactions with certain foreign counterparties remain banned, and Venezuela's ties to designated groups including FARC and Tren de Aragua complicate shielding funds from attachment under U.S. legal environment and Treasury-managed mechanisms.
18 Articles
18 Articles
Reforma
Exports of crude oil from Venezuela rebounded in January, under U.S. control, at 800 thousand barrels per d; in December they were 498 thousand bpd.
Venezuela's oil exports, which fell under US control in early January, rose to around 800,000 barrels per day in January, more than one and a half times more than in December.
Venezuela approves counter-reform of hydrocarbons law
The sequence of events triggered by the imperialist aggression against Venezuela led to the Venezuelan National Assembly’s approval, on 29 January, of a partial reform of the country’s Chávez-era hydrocarbons law. Immediately afterwards, the US Office of Foreign Assets Control (OFAC), which is responsible for sanctions, published General License 46, partially lifting sanctions on Venezuelan oil, albeit with very strict restrictions.
Coverage Details
Bias Distribution
- 72% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
