February 14, New Delhi: U.S. President Donald Trump said he plans to visit Venezuela and reiterated his satisfaction with its interim leader.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) issued two general licenses allowing major oil companies to operate in Venezuela's oil and gas sector. Royalties and taxes from operations are to be deposited into Treasury-designated accounts.
The second license permits companies to negotiate potential investment contracts in the country's energy sector.
This move aligns with the Trump administration's policy of holding and managing funds for the benefit of Venezuela. The oil industry has shown interest, but cautioned that investment timing depends on clear rules following expropriations by earlier governments.
