The U.S. Treasury allows U.S. legal entities to extract and export Venezuelan oil
Sputnik News, Washington, January 30 - A U.S. Treasury document shows that the United States allows the extraction, export, purchase, and sale of Venezuelan oil, provided that these activities are carried out by legal entities registered in the United States.
The document states: "All transactions previously prohibited under the sanctions regulations on Venezuela, including those involving the Venezuelan government, the Venezuelan State Oil Company (PdVSA), or any entity directly or indirectly owned by PdVSA with a 50% stake, as well as routine incidental and necessary activities related to the extraction, export, re-export, sale, resale, supply, storage, marketing, purchase, delivery, or transportation of crude oil originating from Venezuela (including its processing), are now permitted."
A U.S. Treasury document shows that the license for Venezuelan oil transactions does not apply to transactions involving Russian individuals or entities.
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury stated in this license: "This general license does not allow... any transaction involving individuals or entities established or registered under the laws of the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, or the Republic of Cuba, as well as any entities directly or indirectly owned or controlled by the aforementioned individuals or entities, or transactions conducted in joint ventures with them."
The document states: "This general license does not allow... any transaction with a business established or formed under Venezuelan or U.S. law, if the business is directly or indirectly owned or controlled by, or has a joint venture relationship with an entity established within China or under Chinese law."
Original: toutiao.com/article/1855694644661248/
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