Image courtesy of Qué Pasa. The Trump administration has launched a series of actions to advance the President’s plan to reopen and modernize Venezuela’s oil industry, positioning U.S. companies to play a central role in its redevelopment. Through new general licenses issued by the Treasury Department’s Office of Foreign Assets Control, Washington is expanding U.S. participation in Venezuela’s oil and gas sector while establishing oversight mechanisms to ensure revenues are managed transparently. On January 29, OFAC issued General License 46, authorizing U.S.-incorporated firms to market Venezuelan oil globally, including in the United States. Payments must be made on commercially reasonable terms and deposited into U.S.-based accounts overseen by the Departments of State and Treasury to ensure funds benefit the Venezuelan people rather than corrupt actors….
Click here to read the full article at The Gateway Pundit.
