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Venezuela offers oil supplies to EU countries

The regime of Venezuelan President Nicolas Maduro has offered European Union countries the possibility of buying their oil supplies in the wake of the escalating global energy crisis.

The offer was presented by Diosdado Cabello, the deputy leader of the country’s ruling United Socialist Party of Venezuela (PSUV), during a press conference in the country’s capital Caracas, as quoted by local media on Tuesday.

Considered to be Nicolas Maduro’s right-hand man, the politician pointed out that the Venezuelan authorities recognise that some countries in Europe currently have problems with access to oil, which the authorities in Caracas could solve. He pointed out that these troubles stem from the sanctions imposed on Russia after the invasion of Ukraine.

A set price

Mr Cabello indicated that Venezuela is ready to cooperate with the EU on oil exports. However, he stressed that the fee would have to be paid by buyers in advance.

“Venezuela has oil, not only for Spain, but for Europe. The only thing is that they have to pay for it and they have to pay for it at the price it is and, given the circumstances, they have to pay for it in advance,” he said.

Sanction exemptions

Although Venezuela is under US sanctions on oil exports, in May Washington agreed to allow Caracas to sell the oil to Europe.

In June the first transport of Venezuelan oil was sent to Italy after two years, since the US sanctions were first imposed.

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