As reported by The Wall Street Journal, the Biden administration is looking to loosen sanctions on Venezuela to allow Chevron to continue pumping oil in the region. This would then reopen the possibility of oil exports from the nation at a time when the world oil supply is suffering. The proposal comes a day after Biden announced another release from the Strategic Oil Reserves following the decision from OPEC+ to slash its oil production. Instead of pumping out clean oil from our own states, the Biden Admin is now easing sanctions on communist Venezuela to get its dirty oil. 1/2 — Tim Scott (@SenatorTimScott) October 7, 2022Talks on relieving sanctions for Venezuela began in March of this year, and have gained increasing steam.

Source: Wall Street Journal October 08, 2022 03:12 UTC