The United States renewed the authorization to five energy companies to continue operating in Venezuela

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source: reuters.com

The United States renewed the authorization to five energy companies to continue operating in Venezuela despite the sanctions.

President Joe Biden maintains the exceptional policy regarding these companies in the Caribbean country, the same as Donald Trump had.

AGAIN THIS TUESDAY, the US Treasury Department extends this time until December 1, 2021, the license that allows the US oil company Chevron to continue with its essential operations in Venezuela despite the sanctions applied by Washington against the state company Petroleos de Venezuela (PDVSA).

The previous license granted under Donald Trump's presidency (2017-2021) expired on June 3.

With this new Treasury decision, five US companies, including Chevron, are allowed to remain active in Venezuela until December 1, despite the sanctions against PDVSA.

In this way, the new US president, Joe Biden, maintains the exceptional policy regarding the oil company in Venezuela of his predecessor, Republican Donald Trump.

The other four companies, Halliburton, Schlumberger, Baker Hughes, and Weatherford International, are all in the energy sector.

Chevron, the second-largest oil company in the United States and the seventh in the world, is the last major American company that still operates in the oil sector in Venezuela, where it has been active for decades and has about 8,000 employees.

In April 2020, the United States ordered Chevron to"gradually cease" its oil activities in Venezuela and to reduce its operations in the country to a simple "maintenance" of its assets.

During his Administration, Trump imposed numerous rounds of economic sanctions against the Nicolás Maduro regime, which he considered "illegitimate." For now, Biden, who arrived at the White House in January, has maintained the economic punishment of Caracas.

In mid-May, Juan González, Latin America advisor to President Biden, remarked at a conference in Miami that the current Administration did not see a "magic or simple" solution to the crisis in Venezuela and defended a multilateral approach that broadens the consensus in favor of a process that leads to free and fair elections in that country.

The United States has been one of the most faithful allies of the Venezuelan opposition leader Juan Guaidó, recognized in 2019 as interim president of Venezuela by more than fifty countries. However, others such as Russia and China maintain their recognition of Maduro.