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Oil sales from Venezuela to continue indefinitely and sanctions will be reduced, sources say
A motorcyclist passes an oil-themed mural on September 01, 2022 in Caracas, Venezuela.
Nurfoto | Nurfoto | Getty Images
Sources close to the White House told CNBC’s Brian Sullivan on Wednesday that oil sales from Venezuela will continue indefinitely and sanctions will be reduced.
Venezuela will hand over 30 million to 50 million barrels of sanctioned oil to be sold at market prices, President Donald Trump said Tuesday.
However, sources said that these 50 million barrels are only the first tranche and sales will continue indefinitely. US sanctions against Venezuela will be rolled back as part of the deal, sources said.
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