Little progress was reached in talks between U.S. and Venezuelan officials for a possible relaxation of oil sanctions, five familiar sources with the case told Reuters, as supply worries over the Russian invasion of Ukraine pushed oil prices to historic highs.
In their first high-level bilateral talks in years, Washington seeks to separate Russia from one of son key allies.
Both sides took advantage of Saturday’s encounter in the Venezuelan capital Caracas to present this one of sources characterized as “maximalist” claims, reflecting longstanding tensions between countries in the Western Hemisphere main power and one of its greatest ideological enemies.
A US delegation led by Juan Gonzalez – the White House’s top adviser on Latin America – and US Ambassador to Venezuela James Story held talks at Miraflores Palace with Socialist President Nicolas Maduro and his Vice President, Delcy Rodriguez, the sources said.
Roger Carstens, the special presidential envoy for hostage affair was also a member of United States group and made the case of Venezuelan government for The version of American citizens and dual nationals detained there, including six Citgo executives, according to one familiar person with the question.
US officials saw the meeting as a chance assess whether Venezuela, one of Latin American allies closest to Russia, is ready to distance himself of Russian President Vladimir Putin over his invasion of Ukraine, source in Washington said.
Washington also wants to identify alternative oil supplies to fill the void if it seeks a boycott of Moscow energy industry. Venezuela could increase its crude exports if Washington eases sanctions.
The White House, U.S. State Department, and Venezuela’s Ministry of Information declined for comment.
The American will to re-engage after years of avoiding such contact seemed like a boost for Maduro. The meeting took place as Venezuela financial Russia’s lifeline unravels under sanctions on Moscow following son military assault in Ukraine, which Russia describes as “special operation.” Caracas used the talks to pressure for Easing of US sanctions.
Venezuela asked Russia in in recent days to unfreeze the oil revenues of several Russian banks blacklisted by the United States, in particular Promsvyazbank (PSB), where the Venezuelan state-run the oil company PDVSA and the Ministry of Defense have bank accounts, two separate sources said.
In 2019, as part of of US sanctions on Venezuela, another bank largely used for trade with Russia’s Evrofinance Mosnarbank was blacklisted, forcing PDVSA to move its collection accounts to other banks.
During the talks, Washington asked for guarantees of free presidential elections, sweeping reforms of the Venezuelan oil industry to facilitate the production and exports of foreign companies and the governmentit is public conviction of ukraine invasionthat Maduro defended, three people familiar with says the case.
As a concession, U.S. officials were willing to consider temporarily allowing Venezuela to use the SWIFT system, which facilitates financial transactions between banks around the world, for move money to other accounts, one of the sources said.
Maduro looked for a total lifting of sanctions banning oil exports from Venezuela, the removal of punishments on him and other Venezuelan officials, and the return to state control of PDVSA’s US subsidiary, Citgo Petroleum, sources said.
The easing of oil sanctions could start by allowing companies such as the American Chevron Corp., the Indian ONGC and the Europeans Eni, Repsol and Maurel & Prom to trade cargoes of Venezuelan oil. These firms have made separate requests to the Biden administration, but not decisions have been made.
Even if Washington does not accede to Maduro’s demands, it could use the American meeting to put pressure on Russia allow Venezuelan money to keep flowing, two of the sources said.
“Yes, Maduro is anxious for easing of penalties. No, he’s not interested in shifting alliances. It’s tactical”, Eric Farnsworth, head of the washington office of the board of the Americas, said on Saturday on Twitter. “(The) United States must be clear-eyes about it, not naive.”
The Caracas meeting was requested by Maduro government through the multinational law firm Dentons, previously used by other state entities for debt negotiations, two of the sources said.
A Dentons representative in Caracas did not immediately respond to a request for comment.
US officials have agreed to a follow-up meeting but no date has been set, sources have indicated.
Aides to Venezuelan opposition leader Juan Guaido were only told about the meeting on Saturday morning. Guaido has been recognized by the United States and dozens of other nations as the rightful leader of Venezuela after rejecting Maduro’s 2018 re-election as a sham, but several countries have since lost recognition.
During the meeting, US officials reiterated their demand for The version of six former Citgo executives jailed in Venezuela and other U.S. nationals detained, but offered no kind of exchange involving businessman Alex Saab, a key Maduro ally detained in United States. Saab’s exit was a key demand by Maduro to resume talks with the opposition.
Little progress was reached in talks between U.S. and Venezuelan officials for a possible relaxation of oil sanctions, five familiar sources with the case told Reuters, as supply worries over the Russian invasion of Ukraine pushed oil prices to historic highs.
In their first high-level bilateral talks in years, Washington seeks to separate Russia from one of son key allies.
Both sides took advantage of Saturday’s encounter in the Venezuelan capital Caracas to present this one of sources characterized as “maximalist” claims, reflecting longstanding tensions between countries in the Western Hemisphere main power and one of its greatest ideological enemies.
A US delegation led by Juan Gonzalez – the White House’s top adviser on Latin America – and US Ambassador to Venezuela James Story held talks at Miraflores Palace with Socialist President Nicolas Maduro and his Vice President, Delcy Rodriguez, the sources said.
Roger Carstens, the special presidential envoy for hostage affair was also a member of United States group and made the case of Venezuelan government for The version of American citizens and dual nationals detained there, including six Citgo executives, according to one familiar person with the question.
US officials saw the meeting as a chance assess whether Venezuela, one of Latin American allies closest to Russia, is ready to distance himself of Russian President Vladimir Putin over his invasion of Ukraine, source in Washington said.
Washington also wants to identify alternative oil supplies to fill the void if it seeks a boycott of Moscow energy industry. Venezuela could increase its crude exports if Washington eases sanctions.
The White House, U.S. State Department, and Venezuela’s Ministry of Information declined for comment.
The American will to re-engage after years of avoiding such contact seemed like a boost for Maduro. The meeting took place as Venezuela financial Russia’s lifeline unravels under sanctions on Moscow following son military assault in Ukraine, which Russia describes as “special operation.” Caracas used the talks to pressure for Easing of US sanctions.
Venezuela asked Russia in in recent days to unfreeze the oil revenues of several Russian banks blacklisted by the United States, in particular Promsvyazbank (PSB), where the Venezuelan state-run the oil company PDVSA and the Ministry of Defense have bank accounts, two separate sources said.
In 2019, as part of of US sanctions on Venezuela, another bank largely used for trade with Russia’s Evrofinance Mosnarbank was blacklisted, forcing PDVSA to move its collection accounts to other banks.
During the talks, Washington asked for guarantees of free presidential elections, sweeping reforms of the Venezuelan oil industry to facilitate the production and exports of foreign companies and the governmentit is public conviction of ukraine invasionthat Maduro defended, three people familiar with says the case.
As a concession, U.S. officials were willing to consider temporarily allowing Venezuela to use the SWIFT system, which facilitates financial transactions between banks around the world, for move money to other accounts, one of the sources said.
Maduro looked for a total lifting of sanctions banning oil exports from Venezuela, the removal of punishments on him and other Venezuelan officials, and the return to state control of PDVSA’s US subsidiary, Citgo Petroleum, sources said.
The easing of oil sanctions could start by allowing companies such as the American Chevron Corp., the Indian ONGC and the Europeans Eni, Repsol and Maurel & Prom to trade cargoes of Venezuelan oil. These firms have made separate requests to the Biden administration, but not decisions have been made.
Even if Washington does not accede to Maduro’s demands, it could use the American meeting to put pressure on Russia allow Venezuelan money to keep flowing, two of the sources said.
“Yes, Maduro is anxious for easing of penalties. No, he’s not interested in shifting alliances. It’s tactical”, Eric Farnsworth, head of the washington office of the board of the Americas, said on Saturday on Twitter. “(The) United States must be clear-eyes about it, not naive.”
The Caracas meeting was requested by Maduro government through the multinational law firm Dentons, previously used by other state entities for debt negotiations, two of the sources said.
A Dentons representative in Caracas did not immediately respond to a request for comment.
US officials have agreed to a follow-up meeting but no date has been set, sources have indicated.
Aides to Venezuelan opposition leader Juan Guaido were only told about the meeting on Saturday morning. Guaido has been recognized by the United States and dozens of other nations as the rightful leader of Venezuela after rejecting Maduro’s 2018 re-election as a sham, but several countries have since lost recognition.
During the meeting, US officials reiterated their demand for The version of six former Citgo executives jailed in Venezuela and other U.S. nationals detained, but offered no kind of exchange involving businessman Alex Saab, a key Maduro ally detained in United States. Saab’s exit was a key demand by Maduro to resume talks with the opposition.