WASHINGTON (Pakistan Point News / Sputnik - 01st June, 2021) The United States has authorized certain companies to engage in transactions with Venezuela's PdVSA until December 1 despite the US sanctions imposed on the state-owned oil and gas company, the Treasury Department said on Tuesday.
"All transactions and activities prohibited by Executive Order (EO) 13850 of November 1, 2018, as amended by EO 13857 of January 25, 2019, or EO 13884... that are ordinarily incident and necessary to the limited maintenance of essential operations, contracts, or other agreements, that: (i) are for safety or the preservation of assets in Venezuela; (ii) involve PdVSA or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest; and (iii) were in effect prior to July 26, 2019, are authorized through 12:01 am eastern standard time, December 1, 2021," the Treasury said in a notice.
The companies allowed to engage in transactions with PdVSA include Chevron Corporation, Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC, and Weatherford International, Public Limited Company, the notice said.
