(MENAFN) In order to minimize its dependence on Russian energy, the United States granted exemptions to Spanish and Italian oil companies to acquire Venezuelan crude.
According to media on Sunday, the US State Department granted exemptions to Repsol SA of Spain and Eni SpA of Italy to resume transporting Venezuelan oil to Europe.
Venezuela is demanding the money from the two companies for work that was not completed as a result of US sanctions imposed on Caracas.
According to sources, the two oil companies, which were forced by the United States to end their oil-for-debt deals in mid-2020, will now begin operations as early as next month.
The US State Department secretly wrote letters to Repsol and Eni last month suggesting that Washington “would not oppose” if the oil giants pursued oil-for-debt deals and moved the oil to Europe, where countries are facing rising energy prices.
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