A motorcycle rider passes in front of an oil-themed mural in Caracas, Venezuela on September 01, 2022.
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Oil sales from Venezuela will continue indefinitely and sanctions will be reduced, sources close to the White House told CNBC’s Brian Sullivan on Wednesday.
President Donald Trump said Tuesday that Venezuela will turn over 30 million to 50 million barrels of sanctioned oil, which will be sold at market prices.
But those 50 million barrels are only the first tranche and sales will continue indefinitely, sources said. U.S. sanctions against Venezuela will be rolled back as part of the deal, the sources said.
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