U.S. President Donald Trump said he plans to visit Venezuela and reiterated satisfaction with its interim leader.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued two general licences allowing major oil companies to operate in Venezuela’s oil and gas sector. Royalties and taxes from operations are to be deposited into Treasury-designated accounts.
The second licence permits companies to negotiate potential investment contracts in the country’s energy sector.
The move aligns with the Trump administration’s policy to hold and manage funds in custody for Venezuela’s benefit. The oil industry has shown interest, but cautioned that investment timing depends on clear rules following expropriations by earlier governments.
