“Biden’s Treasury Department renews Chevron’s oil license to operate in Venezuela,” by Lawrence Richard, FOXBusiness, May 27, 2022:
The U.S. Treasury Department renewed a license Friday for Chevron to operate its oil production in Venezuela, a country sanctioned by the U.S., potentially setting up a broader license agreement later in the year.
The U.S. has previously served as Venezuela’s largest oil market but oil activity between the countries has been limited amid ongoing political turmoil between Venezuelan President Nicolas Maduro and his opposition, Juan Guaido, who the U.S. recognizes as Venezuela’s rightful leader, Reuters reported.
Under the current license, Chevron is allowed to continue to maintain its staff and operation infrastructure as well as payments on third-party invoices, local taxes and utility services.
The license allows Chevron to conduct “transactions and activities necessary for safety or the preservation of assets in Venezuela,” according to the report. The oil company is also able to participate in shareholder and board meetings….
Chevron’s new license extends its current agreement through the end of November.
This article by Robert Spencer originally appeared on JihadWatch.org and is republished with permission. ©All rights reserved.
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