Chevron Asks Biden Admin to Reinstate Venezuela-Related Authorization, Report Says
The Biden administration is considering a request from Chevron to reinstate a license that would allow it to trade in sanctioned Venezuelan oil cargo and recoup unpaid debt, Reuters reported Feb. 7. Under the Trump administration, the U.S. oil company and others were authorized to “take and export Venezuelan oil to recoup dividends and debt from joint ventures” with Petróleos de Venezuela, the country’s state-run energy company, the report said. The “arrangement” was suspended in 2020 under Trump’s maximum pressure campaign on sanctions.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
"It is a regular practice to meet with U.S. government officials to provide perspectives on energy issues important to the company,” a Chevron spokesperson said Feb. 7. The spokesperson called Chevron a "constructive presence" in Venezuela and said the company is "committed to the safety and wellbeing of our employees and their families, the integrity of our joint venture assets and the company’s social and humanitarian programs during these challenging times.” A spokesperson for the Office of Foreign Assets Control, which administers sanctions authorizations involving PdVSA, declined to comment.