US Government Sanctions Venezuela's Energy Sector
The US government has granted Trinidad and Tobago a license to develop a key gas project in Venezuela, the Dragon field, under an exemption from Washington's sanctions on the oil and gas industry. Shell is planning to green-light its offshore project this year, despite facing challenges in securing supplies of parts from Spirit AeroSystems. The U.S. license was first granted in early 2023 as an exemption to Washington's sanctions on Venezuela.
- This development highlights the complexities of international energy politics, where companies navigate sanctions regimes while seeking access to new markets and resources.
- Will Trinidad's decision to seek an extension of the US license for Shell's gas project be seen as a bid to circumvent U.S. sanctions on Venezuela, or a genuine attempt to secure regional energy security?