PDVSA

The Biden administration has renewed a license partially exempting Chevron from sanctions on Venezuela so it can keep operating in the oil-rich, socialist-run nation.

The daughter of an imprisoned Citgo executive feels a renewed hope her father and his colleagues will soon be released. On Monday, one member of the so-called ‘Citgo 6′ was released from a Venezuelan prison following negotiations between the U.S. government and President Nicolas Maduro’s regime.

A former top lawyer in Venezuela’s oil ministry who has been helping U.S. authorities drill deeper into a $1.2 billion money laundering case fueled by government corruption pleaded guilty in Miami federal court Wednesday almost one year after he surrendered.

Venezuelan opposition leaders meeting with Biden administration officials this week sought to find out whether the Latin American nation can get relief from U.S. sanctions in exchange for free elections safeguards during upcoming talks with Nicolás Maduro’s regime organized by Norway, sources familiar with the situation said.

A federal judge has sentenced a Miami money manager to nearly four years in prison for his role in a $1.2 billion conspiracy to embezzle funds from Venezuela’s state-owned oil company. Prosecutors had been seeking a much stiffer sentence against Gustavo Hernandez Frieri, arguing that he had misled them about his assets and business dealings after pleading guilty in 2019 to a single count of conspiring to launder money. Hernandez is only the second individual sentenced as part of Operation Money Flight, a major investigation into how businessmen bribed officials in President Nicolas Maduro's government to siphon billions from PDVSA through bogus currency deals.

A Venezuelan judge recently found six oil executives guilty of corruption charges in a case that began in November 2017. Family members of the former Citgo executives were stunned by the verdict and vowed to continue fighting for the men’s release. In the letter, Zambrano appeared optimistic the trial would show none of the men did anything wrong. (KPRC)Forseth said a single judge rendered verdict and punishment at the conclusion of a trial where access was tightly controlled. We continue to pray for them and their families and hope for a resolution that will lead to their prompt release.