US cancels Italy’s Eni permit for Venezuelan gas production

• Published On: 31 March 2025 at 06:13

On Sunday, Italy's Eni confirmed that US authorities had informed the company that it would no longer be able to receive oil from Venezuela's state-run PDVSA as payment for gas production.

On Saturday, Reuters reported that the US government had notified PDVSA's foreign partners, including Eni, of its decision to revoke authorizations to export Venezuelan oil and byproducts.

"Eni continues its transparent engagement with US authorities on the matter to identify options for ensuring that non-sanctioned gas supplies, essential to the population, can be remunerated by PDVSA," the energy firm said in a statement.

"Eni always operates in full compliance with the international sanctions framework," according to the statement.

Venezuelan President Nicolás Maduro has condemned the sanctions, describing them as a "economic war."

Companies that have received licenses and comfort letters from Washington include Spain's Repsol, Italy's Eni, France's Maurel & Prom, India's Reliance Industries, and the United States' Global Oil Terminals.

Most had already halted Venezuelan oil imports after the United States, led by former President Donald Trump, imposed secondary tariffs on buyers of Venezuelan oil and gas this week, according to sources and vessel tracking data.