The Trump administration amended its Venezuela licenses to loosen US-related legal provisions as it seeks to facilitate investment in the country’s oil and other natural resources.
The Treasury Department’s Office of Foreign Assets Control on Wednesday modified a provision requiring contracts to be governed exclusively by the law of a US state or jurisdiction, allowing terms that also recognize certain aspects of Venezuelan law and regulations.
At the same time, Treasury expanded the international jurisdictions for dispute resolution to include not only the US but also the UK, France and Singapore.
The changes were issued as oil companies from the ...
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