March 31, 2025 [Reuters]- Italy’s Eni confirmed on Sunday it was notified by U.S. authorities it would no longer be allowed to be repaid for gas production in Venezuela through oil supplies given by Venezuelan state oil company PDVSA.
Reuters had reported on Saturday that the U.S. government had notified foreign partners of PDVSA, which include Eni, of the imminent cancellation of authorizations that allow them to export Venezuelan oil and byproducts.
“Eni continues its transparent engagement with U.S. authorities on the matter to identify options for ensuring that non-sanctioned gas supplies, essential to the population, can be remunerated by PDVSA,” the Italian energy company said in a statement.
“Eni always operates in full compliance with the international sanctions framework,” it added.
Venezuela’s President Nicolas Maduro has criticized the sanctions, saying they amount to an “economic war.”
The companies that had received licenses and comfort letters from Washington also include Spain’s Repsol, France’s Maurel & Pro, India’s Reliance Industries and U.S. Global Oil Terminals.
Venezuela’s Vice President Delcy Rodriguez confirmed on Sunday on social media that the government had been informed about the decision to cancel these authorizations.
“We were prepared for this juncture and we’re ready to continue to comply with the contracts of these companies,” she wrote, adding that foreign companies do not need a license or authorization from another government in Venezuela.
“We are a trustworthy partner and will continue to comply with the agreements reached with these companies.”
Most companies had already suspended imports of Venezuelan oil following Trump’s imposition this week of secondary tariffs on buyers of Venezuelan oil and gas, according to sources and vessel tracking data.
Free Trial: Access 13,300 Tank Terminal and Production Facilities
13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data
