U.S. Official Sees No Need to Allow Diesel Swaps in Venezuela

There’s no immediate need for the U.S. to allow companies including Reliance, Repsol or Eni to supply Venezuela with diesel in exchange for crude, Ambassador Brian A. Nichols, nominee for assistant secretary of state for the Western Hemisphere Affairs, said.

• “As I understand it, there’s enough diesel capacity within Venezuela, at least in the next six months or so,” he said before the Senate Foreign Relations Committee Wednesday
• The diesel situation is something that needs to be monitored, he said
• Nichols also stood by sanctions against Venezuela, saying it’s important to maintain economic pressure on a government ...