In a significant diplomatic development, the United States has authorized Trinidad and Tobago to negotiate a gas deal with Venezuela without facing U.S. sanctions. The U.S. Treasury Department issued an Office of Foreign Assets Control (OFAC) license on Wednesday, enabling the Caribbean nation to pursue the development of a gas field in Venezuelan waters. This decision follows a formal request made by Trinidad and Tobago in May, as confirmed by Attorney General John Jeremie. The license, valid for six months, sets specific parameters for negotiations, ensuring compliance with U.S. policies toward Venezuela. Jeremie emphasized that the targets outlined by the U.S. are reasonable and achievable, though he declined to disclose further details. The gas project is deemed crucial for Trinidad and Tobago, which is striving to enhance its gas production and address budgetary challenges. The license, however, only covers initial negotiations, with further steps contingent on successful completion of this phase. The approval was secured after U.S. Secretary of State Marco Rubio met with Trinidad and Tobago’s Prime Minister on September 30, reaffirming U.S. support while ensuring the deal does not significantly benefit the Maduro regime. This marks a reversal from April 2024, when a previous license for the same project was revoked, posing a setback to the country’s energy security. The new license differs in terms from its predecessor, though details remain undisclosed. When questioned about potential engagement with Venezuela, Jeremie remained noncommittal, stating, ‘I am not prepared to go into that at this time.’
Trinidad and Tobago secures US permission to negotiate gas deal with neighboring Venezuela
