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Venezuela’s National Assembly and interim government this week enacted sweeping changes to the hydrocarbons sector and Washington moved quickly to broaden US firms’ access to Venezuelan crude.
Lawmakers approved and Acting President Delcy Rodríguez signed revisions that allow private and foreign companies to contract directly with state oil firm PDVSA, engage in direct commercialisation, hold revenues in overseas bank accounts and resolve disputes via arbitration.
Royalties are capped at 30% and the executive retains discretion over contract terms.
Hours after the parliamentary vote, the US Treasury issued a wide-ranging general licence enabling “established US entities” to lift, export, refine, store, transport and market Venezuelan‑origin oil, while barring transactions involving entities or individuals from Russia, China, Iran, North Korea and Cuba.
US officials and Secretary of State Marco Rubio have said Washington will oversee initial sales and revenue flows — part of arrangements made after a Jan. 3 US raid that captured Nicolás Maduro — and have already discussed large sales and revenue-accounting structures.
The moves are aimed at attracting US investment to revive output while reshaping geopolitical control of Venezuela’s vast reserves.
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News | Latest Breaking News Stories & Headlines | RTÉUS lifts some sanctions on Venezuela to ease oil salesUS
News | Latest Breaking News Stories & Headlines | RTÉUS lifts some Venezuela sanctions to ease oil salesUS



















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