It seems like the world of oil is getting more and more complicated, and the latest chapter in the Venezuelan oil saga is no exception. For months, the flow of Venezuelan crude to the US has been a hot topic, tangled in a web of sanctions, political maneuvering, and what some are calling a classic case of double standards. So, what’s really going on?
Well, for starters, it looks like Venezuelan oil is once again making its way to US ports. Two tankers chartered by Chevron recently arrived in US waters, marking the first time in months that Venezuelan crude has been imported. This comes after the US Treasury Department granted Chevron a restricted license to operate in Venezuela and export its oil [1]. But here’s the catch: the license strictly prohibits any money from the oil sales from going to the Maduro administration. It’s a move that reverses a tougher sanctions policy that had been in place since April, and it’s definitely raising some eyebrows.
Adding another layer to this complex situation, the Trump administration is reportedly withholding approval for other major oil companies to operate in Venezuela, specifically non-US firms like Spain’s Repsol and Italy’s Eni [2]. This has left many wondering if the US is playing favorites, giving American companies a leg up while keeping others out. It’s a move that’s sure to have a ripple effect on the global oil market.
And if that wasn’t enough, some energy experts are calling out the US for what they see as hypocrisy. One analyst pointed out that while the US is cracking down on India for importing Russian oil, it’s simultaneously importing oil from Venezuela, a country also under sanctions [3]. It’s a classic case of “do as I say, not as I do,” and it’s not going unnoticed. The expert also highlighted that the EU is still importing a significant amount of natural gas from Russia, and no one seems to be batting an eye. It all begs the question: are the sanctions really about politics, or is there more to the story?
As the situation continues to unfold, one thing is clear: the world of oil is as murky as ever. With so many players and so much at stake, it’s hard to know who to believe. But one thing’s for sure, we’ll be keeping a close eye on this story as it develops.
External Links:
[1] Yahoo Finance: Chevron (CVX) Tankers Deliver Venezuelan Crude to US Ports – https://finance.yahoo.com/news/chevron-cvx-tankers-deliver-venezuelan-043314339.html
[2] Bloomberg: Trump Withholds Venezuelan Oil Approval for Non-US Majors – https://www.bloomberg.com/news/articles/2025-08-22/trump-team-withholds-venezuelan-oil-approval-for-non-us-majors
[3] Business Today: ‘Venezuelan oil flowing to US despite sanctions’: Energy expert blasts America’s double standards – https://www.businesstoday.in/india/story/venezuelan-oil-flowing-to-us-despite-sanctions-energy-expert-blasts-americas-double-standards-491527-2025-08-28