The US lifted some of the sanctions on Venezuela to overcome the economic crisis

The US Treasury has allowed Chevron to resume mining in Venezuela on a limited scale. Thus, the White House lifted part of the sanctions from the country.

This is stated in the resolution of the Ministry of Finance.

Such a step should alleviate the poverty of the Venezuelan people and support the restoration of democracy.

"The production of petroleum or petroleum products, the sale, exportation or importation into the United States of petroleum or petroleum products produced by a Chevron joint venture is permitted, provided that the petroleum and petroleum products produced by the joint venture are first sold to Chevron," the license states.

The document also allows the export of thinners, condensates, petroleum products or liquefied natural gas to Venezuela.

At the same time, as before, US companies are prohibited from:

• pay taxes or royalties to the government of Venezuela;
• pay dividends to Venezuelaʼs state oil and gas company PdVSA (or any entity in which it owns a 50% or more stake);
• sell raw materials produced by the Chevron joint venture to jurisdictions other than the United States;
• enter into agreements with the participation of legal entities in Venezuela that are controlled or owned by a legal entity from Russia;
• to expand Chevronʼs production in Venezuela to the level that existed before January 28, 2019.

A month ago, Turkish Foreign Minister Mevlüt Çavuşoğlu said that the lifting of Western sanctions, particularly against Iran and Venezuela, would ease the global energy crisis caused by Russiaʼs war in Ukraine.