Overview
- Energy officials said select sanctions tied to transportation and production are being lifted to route Venezuelan crude and products to global markets through U.S.-approved channels.
- Washington will permit deliveries of light U.S. crude to Venezuela to blend and move the country’s heavy oil, and it plans work to modernize Venezuela’s degraded power grid.
- The Department of Energy said the U.S. has already started selling Venezuelan crude on the world market, while the White House stressed maritime movements must comply with U.S. law and security requirements.
- The White House said Venezuela’s temporary authorities agreed to transfer sanctioned oil to the United States, and Secretary of State Marco Rubio said sales will be at market prices with no discounts.
- Media reports said the U.S. aims to buy more than 50 million barrels and sought preferential terms for heavy crude, though those claims were attributed to unnamed sources and have not been officially confirmed.