U.S. to let Eni, Repsol ship Venezuela oil to Europe for debt

Italian oil company Eni and Spain's Repsol could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela Reuters reports.

The volume of oil Eni and Repsol are expected to receive is not large, one of the people said, and any impact on global oil prices will be modest. But Washington's greenlight to resume Venezuela's long-frozen oil flows to Europe could provide a symbolic boost for Venezuelan President Nicolas Maduro.

A key condition, one of the people said, was that the oil received "has to go to Europe. It cannot be resold elsewhere."

Tags: oil, USA, import

Read also

На восстановление коммунальной инфраструктуры Луганской области понадобится более 7 млрд грн
Оккупанты создали на юге Украины два фейковых облэнерго
Украина обратилась к арабским странам с призывом поддержать эмбарго на нефть РФ