(MENAFN) In an effort to minimize their dependency on Russian energy, the US has granted exemptions to Spanish and Italian oil corporations to acquire Venezuelan crude.
According to media reports on Sunday, the US State Department granted exemptions to Repsol SA of Spain and Eni SpA of Italy to resume transporting Venezuelan oil to Europe.
Venezuela demands both firms' money for work that was left unfinished as a result of US sanctions imposed on Caracas.
As per sources, the two oil firms, who were obliged by the US to halt their oil-for-debt arrangements in mid-2020, will now begin operations as soon as next month.
The US State Department covertly wrote letters to both Repsol and Eni last month, suggesting that Washington would "not object" if the oil giants continued oil-for-debt arrangements and transferred the petroleum to Europe, where countries are confronting escalating energy prices.
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