RE:RE:RE:RE:So these Yahoos were wrong again General License 44 broadly authorised oil and gas transactions with Venezuela’s state-owned oil company PDVSA. It was introduced by the US after the government agreed to reforms that would bring more competitive elections with international observers.
The reimposition of sanctions means that Venezuela’s fuel sales are expected to take a major hit, while US oil companies operating in Venezuela will have to scramble to seek special authorisations.
If the US does not grant enough individual authorisations, PDVSA is expected to resort to little-known intermediaries to sell its oil under price discounts, mainly to Asia.