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No Change Expected for Venezuela Special Operations Licenses

OIL

The U.S. does not plan to cancel any company specific licenses allowing oil companies to operate in Venezuela after the election according to a senior Biden official.

  • “It is not currently under consideration that we would retroactively alter licenses that have previously been given," the official said.
  • The results of the election have drawn criticism from U.S. officials questioning the validity of the outcome.
  • "We don’t expect to see an immediate change in the US sanctions posture, but I suspect we won’t be seeing new licenses any time soon," according to Rapidan analysis of the situation.
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