Caracas, October 27, 2022 (venezuelanalysis.com) – US Senators Marco Rubio (R-FL) and Ted Cruz (R-TX) penned a letter to President Joe Biden rejecting any sanctions relief against Venezuela.
“We are concerned with recent reports that your administration is considering allowing Chevron to restart oil operations with [Venezuelan state company] Petróleos de Venezuela SA (PDVSA) […] which remains under US sanctions,” read the letter, sent on Wednesday.
Chevron has been the only foreign company with permission to maintain a minimal presence in Venezuela to preserve its oil wells. Last year, the California-based firm began lobbying to get expanded sanctions exemptions from the Treasury Department to resume drilling and trading Venezuelan crude in order to offset some US $3 billion owed by PDVSA.
In May, Chevron and PDVSA began negotiations and later reached a reported agreement on revamped oil operations. The approval of a broader sanctions waiver for the US company could be in the works, according to a Wall Street Journal report. So far, there has been no official announcement, with the White House allegedly waiting for the midterm elections before deciding its course.