US Oil Tycoon Gets License to Keep Buying Asphalt From Venezuela

US energy magnate Harry Sargeant III secured a license to continue importing asphalt from Venezuela without breaching US sanctions.

Oil firms that want to stay or operate in Venezuela have been applying for permits from the US Treasury after Washington reimposed sanctions last month.

Texas-based Global Oil Terminals, owned by Sargeant, signed a contract with state-owned Petróleos de Venezuela SA in January to import six 95,000-barrel cargoes of asphalt for infrastructure projects in the US.

The two-year waiver, obtained on May 24, will allow Global Oil Terminals to continue purchasing and transporting asphalt to the US and the Caribbean region, ...