US Greenlights Trinidad-Venezuela Gas Deal Negotiations
The United States has given Trinidad and Tobago permission to negotiate a gas deal with Venezuela, bypassing US sanctions. This move provides a critical opportunity for the Caribbean nation to boost its gas production. The agreement comes with US-imposed targets and is crucial for Trinidad's economic development.
Trinidad and Tobago has received clearance from the United States to proceed with gas deal negotiations with Venezuela. The decision was confirmed by the nation's attorney general, following a Treasury Department license that circumvents existing US sanctions.
This license is crucial for Trinidad and Tobago as it seeks to exploit a gas field in Venezuelan waters, a project seen as essential to increasing the country's gas production and revenue, amid a budget with spending that exceeds income.
The initial deal secured after discussions with US Secretary of State Marco Rubio allows for negotiations while ensuring that benefits to the Maduro regime in Venezuela are minimized. The agreement sets a six-month negotiation period with specific targets outlined by the US.
(With inputs from agencies.)
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