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The licenses also allow companies to supply goods, services, and technology to support Venezuela's electricity and petrochemical sectors, expanding on previous permits that focused primarily on oil and gas.
The United States on Friday expanded sanctions waivers related to Venezuela by updating several licenses issued by the Treasury Department. This move allows for increased investment and activity in the South American country's energy and petrochemical sectors and enables the export of fertilizers to the U.S. market. In a statement, the Treasury said the Trump administration is fulfilling the president's promise to help restore Venezuela's economy in the interest of both the American and Venezuelan people.
The Office of Foreign Assets Control (OFAC) reported that it updated several licenses related to Venezuela with the goal of supporting the revitalization of the country's energy sector and contributing to keeping the global market for raw materials well-supplied.
The United States on Friday expanded sanctions waivers related to Venezuela by updating several licenses issued by the Treasury Department. This move allows for increased investment and activity in the South American country's energy and petrochemical sectors and enables the export of fertilizers to the U.S. market. In a statement, the Treasury said the Trump administration is fulfilling the president's promise to help restore Venezuela's economy in the interest of both the American and Venezuelan people.
The Office of Foreign Assets Control (OFAC) reported that it updated several licenses related to Venezuela with the goal of supporting the revitalization of the country's energy sector and contributing to keeping the global market for raw materials well-supplied.
Washington updates Venezuelan licenses to boost energy sector and secure commodities market
The licenses also allow companies to supply goods, services, and technology to support Venezuela's electricity and petrochemical sectors, expanding on previous permits that focused primarily on oil and gas.
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