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Nicolas Maduro lures West with abundant oil and gas, Venezuelan president wants sanctions lifted

Venezuela’s President Nicolas Maduro said the country is ready to help with oil amid economic turmoil around the world and an energy crisis in Europe.Venezuela is the world’s largest crude oil supplier. Despite the fact that US economic sanctions imposed by the Trump administration in 2019 have prevented US companies from engaging with the national oil company.

President Maduro claims “Venezuela is ready and willing to play its part” by fueling the world

Venezuela’s current president, Nicolas Maduro, is a controversial leader who just recently offered to help Western countries like the United States with oil and gas. I spoke at an event organized by the Organization of Nations (OPEC).

The secretary general of the intergovernmental organization, who visited Caracas and Maduro, said Venezuela was ready to help countries cope with volatile gas and oil markets. “Venezuela is ready and willing to fulfill its role and supply the oil and gas markets needed by the global economy in a stable and secure manner,” the Venezuelan President said at the event. rice field.

Although data showed oil exports were low, Maduro was adamant that Venezuela’s Petroleos de Venezuela, SA (PDVSA) had “recovered.” At the same time, European (Brent) oil prices have fallen from their June highs, but are currently hovering around $89.53, while US crude is trading at $79.30 a barrel.

European natural gas prices have soared and remain at all-time highs. The Trump administration’s financial sanctions on Venezuela’s oil, gas, gold, and food imposed in January 2019 have left Venezuela’s export levels very low.

Venezuela’s oil minister says US sanctions prevent Latin American oil giants from supporting “any government or country in the world”

Last May, US President Joe Biden made an exception to the rule, allowing Venezuela to export oil to Europe to pay off its debt. The Biden administration has not rescinded sanctions imposed on Venezuelan oil and gas suppliers.

In August, Maduro abruptly halted the oil-to-debt deal, and the Venezuelan president appears to want to rekindle the deal. said the energy “crisis” was precarious and the sanctions against Russia were “unjustified”.

Venezuelan Oil Minister Tarek El Aissami told the media that Venezuela is ready to play its part and supply the world with oil and gas demand before Maduro explained that Caracas would support any government He said he was ready and willing to help.

Aisami said Venezuela will supply “every government in the world, every company in every country”, but added that US sanctions are a hindrance. Additionally, speaking to Reuters, Aisami told the publication that PDVSA is fully “ready and prepared” to work with California-based oil giant Chevron.

Secretary-General: OPEC’s challenge is ‘greater and more important’ than ever

Haitham al-Ghais told attendees in Caracas that OPEC’s current challenges are “greater and [and] More important than ever. Maduro and Aissami are ready to help the West again, but the US could become more critical after the Venezuelan president halted his August oil and debt dealings.

Venezuela is not the only country calling for the lifting of sanctions. Kremlin members explained that gas connections like the Nord Stream 1 pipeline will be restored after sanctions against Russia are lifted.

Tehran is reportedly saying ‘winter is coming’ to Europe and is making fun of the European Union with cheap gas. Like Russia and Venezuela, Iran wants economic sanctions lifted, says state-backed news outlet Mehr.

Tags for this story

Ban, Brent, Caracas, Tehran cheap gas, economy, Europe, European natural gas, European oil, European Union, gas, inflation, Iran, Joe Biden, natural gas, Nicolas Maduro, OIL, OPEC , OPEC countries, pdvsa , Russia, sanctions, sanctions, Secretary General Haitham Al-Ghais, Tarek El-Aissami, Tehran, United States, US Oil, President of Venezuela

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Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.

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Nicolas Maduro lures West with abundant oil and gas, Venezuelan president wants sanctions lifted

Source link Nicolas Maduro lures West with abundant oil and gas, Venezuelan president wants sanctions lifted

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