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Venezuelan State Oil Company President Calls U.S. Partial Lifting of Sanctions “Unprecedented” Act

The temporary suspension of a set of unilateral sanctions imposed by the United States against Venezuela is an “unprecedented” event, said Pedro Tellechea, president of the state-owned oil company Petroleos de Venezuela SA (PDVSA).

The official posted on his X account that the general license granted by the U.S. Office of Foreign Assets Control will suspend the siege imposed on PDVSA.

Tellechea, also Venezuela’s Oil Minister, described Washington’s move as a “transcendental achievement” by President Nicolas Maduro and his strategy to demonstrate the “illegality” of the sanctions.

On Wednesday, the U.S. Treasury Department officially suspended the restrictions applied against Venezuelan oil and gas operations for six months.

President of the Venezuelan National Assembly Jorge Rodriguez reiterated on social media that Venezuela will continue “betting on dialogue for a country free of sanctions.” 

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