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US to revoke authorizations to foreign partners of Venezuela's PDVSA, sources say
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US to revoke authorizations to foreign partners of Venezuela's PDVSA, sources say
Mar 29, 2025 2:16 PM

HOUSTON, March 29 (Reuters) - The U.S. government has

notified foreign partners of Venezuela's state oil company PDVSA

of the imminent cancellation of authorizations that allow them

to export Venezuelan oil and byproducts, sources close to the

decision by President Donald Trump's administration said on

Saturday.

In recent years, former President Joe Biden's administration

granted the authorizations to secure Venezuelan oil supplies to

refineries from Spain to India as exceptions to the U.S.

sanction regime on the South American country.

The companies that had received licenses and comfort

letters from Washington include Spain's Repsol, Italy's

Eni, France's Maurel & Prom, India's Reliance

Industries and U.S. Global Oil Terminals.

Most

companies

had already suspended imports of Venezuelan oil following

Trump's imposition this week of secondary tariffs to buyers of

Venezuelan oil and gas, according to sources and vessel tracking

data.

Repsol, Eni, Maurel & Prom, Reliance and the U.S. State

and Treasury departments did not immediately reply to requests

for comment. Global Oil could not be reached for comment.

Last month, Trump said a key license to U.S. producer

Chevron ( CVX ) to operate in Venezuela and export crude to the

U.S. would be canceled. Days later, the U.S. Treasury Department

ordered the company to wind down operations, and last week

extended the deadline to May 27.

The withdrawal of the most important U.S. license for

Venezuela's energy industry had sent a signal of Washington's

change of policy towards Venezuela as Trump's government curbs

migration, with special focus on Venezuelans illegally in the

U.S.

It was not immediately clear if all PDVSA foreign

partners were given the same deadline of May 27 to wind down

operations.

U.S. Secretary of State Marco Rubio said this month that

foreign companies in Venezuela would receive new guidance.

Venezuelan President Nicolas Maduro, whose 2024

re-election was not recognized by Washington, has criticized the

sanctions, saying they amount to an "economic war."

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