US-Venezuela oil deal may signal easing of sanctions, analyst says
A political economy analyst says a US-Venezuela oil agreement could pave the way for lifting sanctions and renewed investment in Venezuela's energy sector.
A political economy analyst has suggested that a recent US-Venezuela oil deal could lead to the lifting of sanctions and increased investment in Venezuela's energy sector. Dr. Nasser Zuhair, who discussed the matter in an interview with Al Ekhbariya TV, believes that the shift in Venezuela's oil policy indicates a significant change in the political landscape and relations between the United States and Venezuela.
This change has translated into a shift from strict sanctions to talks of a historic oil agreement. Zuhair anticipates two main outcomes from this deal: either the complete lifting of US sanctions on Venezuela or the rehabilitation of the country's energy infrastructure. He pointed out that Venezuela's energy sector is in dire need of substantial investment, estimated to be around $100 billion over the next three years, to bring it up to date.
Despite the complex history between US energy companies and Venezuela, efforts are being made to reorganize the country's economic landscape.
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