US Treasury authorises PDVSA oil sales to US firms and global markets
→Oil trading desks must comply with US Treasury authorisation conditions for Venezuelan crude
Change
US Treasury has authorised Petróleos de Venezuela S.A. (PDVSA) to sell Venezuelan oil to U.S. companies and on global markets only when transactions meet the conditions set in its March 18, 2026 authorisation.
Why it matters
U.S. and international buyers must transact in PDVSA crude only under the specific limits the March 18 authorisation sets; deals outside those limits remain restricted. The authorisation imposes binding conditions on which PDVSA sales qualify for lawful receipt and settlement under U.S. sanctions rules.
Implications
- — Compliance teams at U.S. oil companies and commodity trading houses must verify and document Treasury March 18 authorisation for every PDVSA sale immediately — failure to do so risks sanctions enforcement or transaction blocking.
- — Trading desks at refiners and crude buyers must not book or accept PDVSA cargoes unless contracts and payment instructions explicitly reference the Treasury March 18 authorisation — shipments or payments lacking the authorisation risk being blocked and refused delivery.
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Source
View on The Hindu