Page 3 - Venezuela Economy

Highlights of the day: 2 killed in clash between ethnic groups in Manipur

Catch all the latest updates from across the globe here

US pulls some of Venezuela's sanctions relief as court blocks oppn leader

The US government on Monday pulled back part of the sanctions relief it granted Venezuela last year, following through on its threat after the South American country's highest court blocked the presidential candidacy of an opposition leader. The Department of the Treasury gave companies transacting with Venezuela's state-owned mining company until February 13 to wind down operations. The department had allowed transactions with the mining company in October after the government of President Nicols Maduro reached an agreement with the US-backed opposition faction to work toward levelling the playing field ahead of the presidential election. On Friday, however, the prospect of a free presidential election was dealt a heavy blow when the country's highest court upheld a ban on the candidacy of Mara Corina Machado, a longtime government foe and winner of the primary held by the opposition. Machado, a former lawmaker, won the opposition's independently run presidential primary with more

Guyana rejects quest for US military base as dispute with Venezuela deepens

Guyana's Attorney General Anil Nandlall said on Thursday that Guyana's government has reassured neighbouring Venezuela there is no plan for the US to establish a military base in the South American country and that it has not made a formal request for one. Nandlall spoke to The Associated Press days after Daniel P. Erikson, US deputy assistant secretary of defence for the Western Hemisphere, visited Guyana and one day after Guyanese officials announced they were seeking help from the US to improve its defence capabilities. Nandlall and other officials in Guyana have sought to temper tensions with Venezuela over a disputed region known as Essequibo rich in oil and minerals that represents two-thirds of Guyana and that Venezuela claims as its own. We have not been approached by the United States to establish a military base in Guyana, said Guyanese Vice President Bharrat Jagdeo, adding that the government does not conduct public policy at press conferences. Erikson visited just weeks

India to resume Venezuelan oil purchases, says Hardeep Singh Puri

India is willing to buy oil from any country that is not sanctioned, the minister added

LIVE: Hiranandani confesses helping LS MP Moitra in attacking Adani group

Catch all the latest updates from around the world here

Oil prices slip as Venezuela sanctions ease, Middle East in focus

Saudi Arabia had said it would keep its voluntary cut until the end of the year

US eases oil, gas, sanctions on Venezuela after electoral roadmap signed

In response to Venezuela's government and a faction of its opposition formally agreeing to work together to reach a series of basic conditions for the next presidential election, the US agreed Wednesday to temporarily suspend some sanctions on the country's oil, gas and gold sectors. Tuesday's agreement between President Nicols Maduro's administration and the Unitary Platform came just days before the opposition holds a primary to pick its candidate for the 2024 presidential election. The US Treasury issued a six-month general license that would temporarily authorise transactions involving Venezuela's oil and gas sector, another that authorizes dealings with Minerven the state-owned gold mining company and it removed the secondary trading ban on certain Venezuelan sovereign bonds. The ban on trading in the primary Venezuelan bond market remains in place, Treasury says. Brian E. Nelson, Treasury's under secretary for terrorism and financial intelligence, said the US welcomes the .

Brazil's Lula welcomes back Venezuelan Prez for first time after ban

Brazilian President Luiz Inacio Lula da Silva welcomed back his Venezuelan counterpart Nicolas Maduro

Russia minister visits Venezuela, reviews ties, offers full support

Russia and Venezuela reviewed some of their hundreds of bilateral agreements covering the financial, energy, agricultural and several other sectors during discussions between their top diplomats and other high-level officials Tuesday in the South American country. Russian Foreign Minister Sergei Lavrov and his Venezuelan counterpart Yvn Gil held a joint press conference in Caracas hours after the former arrived to the allied country in the second stop of a tour of four Latin American nations. Both men vowed continued support for each other's country and condemned the economic sanctions that the United States government has imposed on them. We fully support the position of our Venezuelan friends, Lavrov said. It is their country ... and we are going to support it in any way so that the Venezuelan economy becomes an independent economy from the pressures of the United States and other western actors. Lavrov's remarks were translated from Russian to Spanish by a government-provided ...

Inflation-stricken Venezuela rolls out new, larger-denomination banknotes

Venezuela this week is rolling out larger-denomination banknotes as hyperinflation batters the crisis-stricken South American country's bolivar currency

Venezuela rations diesel supply to truckers as fuel shortages worsen

Venezuelan state oil company Petroleos de Venezuela has begun rationing diesel to truckers, sources said, as low domestic refining output and scarce imports amid US sanctions squeeze fuel supplies

Three years after $1-billion Venezuela deal, US oil firm shuts doors

Horizontal never completed the wells, its financial backer took a provision for losses on the loan, and Venezuela's production continued to fall

A cigarette or a candy bar, that's all you need to buy fuel in Venezuela

Bartering at the pump has taken off as hyperinflation makes Venezuela's paper currency, the bolivar, hard to find and renders some denominations all but worthless, so that nobody will accept them

Fuel shortage the new normal in Venezuela as it suffers 5th yr of recession

Venezuela produced more than 2 million barrels per day (bpd) of crude last year but by September output had fallen to just 1.4 million bpd