US Approves Resumption of Operations in Venezuela For US, European Oil Companies

On Monday, the Associated Press reported, citing two senior US officials, that Washington is preparing to ease a part of the economic sanctions on Venezuela to allow Chevron Corp. to resume operations in the country.

The United States has allowed US and European oil companies to resume work in Venezuela, Delcy Rodriguez, the vice president of Venezuela, said on Tuesday.

"The Bolivarian government of Venezuela has verified and confirmed the published news that the United States of America has authorized American and European oil companies to negotiate and resume operations in Venezuela," Rodriguez tweeted.

US officials told reporters that if progress is made, there may be an opportunity for US engagement with the government of Nicolás Maduro.

It has also been said that the government of Venezuelan President Nicolas Maduro and the opposition will soon resume a political dialogue and, depending on the results, Washington could adjust its sanction policy in order to increase or decrease pressure.

Earlier, it was reported that the US had decided to resume negotiations with Venezuela amid the strict sanctions imposed on Russian energy suppliers. In March, both sides discussed the possibility of easing oil sanctions against Caracas but failed to make significant progress.

Washington introduced the first package of restrictions against Venezuela in 2015, citing “human rights violations.” The sanctions were extended after the presidential elections that took place in 2019. The US, along with a number of other Western countries, didn’t recognize the reelection of President Nicolás Maduro and endorsed Juan Guaido, head of the opposition-controlled National Assembly, as "interim head of state."