Western oil companies in Venezuela means less room for Russia to move the needle on big OPEC cuts. The US can bury Russia when it comes to lobbying/bribing foreign governments.
Western oil companies will bring back a lot of money/technology/engineering with them that Venezuela has been missing under sanctions. If Maduro is agreeing to this, that means a plan for more companies coming back is likely. The US has been brain draining Venezuela since sanctions started and if this goes through a lot of skilled workers will go back to Venezuela.
It's only work if the US agree that they'll not place sanction again on Venezuela, basically an agreement which US probably not going to sign nor honor it. Seeing how recession going to hit in 2023, they better hope it's a mild and a quick one, if not then the nuts job will back in power and place sanction.
Western oil companies in Venezuela means less room for Russia to move the needle on big OPEC cuts. The US can bury Russia when it comes to lobbying/bribing foreign governments.
Western oil companies will bring back a lot of money/technology/engineering with them that Venezuela has been missing under sanctions. If Maduro is agreeing to this, that means a plan for more companies coming back is likely. The US has been brain draining Venezuela since sanctions started and if this goes through a lot of skilled workers will go back to Venezuela.
It's only work if the US agree that they'll not place sanction again on Venezuela, basically an agreement which US probably not going to sign nor honor it. Seeing how recession going to hit in 2023, they better hope it's a mild and a quick one, if not then the nuts job will back in power and place sanction.
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