WASHINGTON: The US has completed the first sales of Venezuelan oil that are part of a $2 billion deal reached earlier this month between Caracas and Washington, a US official told Reuters on Wednesday. Additional sales are expected in the coming days and weeks, the official added. Revenue from the initial oil sales — valued around $500 million — is being held in bank accounts controlled by the US government, according to an administration official, citing an order issued on Friday.

WASHINGTON: The US has completed the first sales of Venezuelan oil that are part of a $2 billion deal reached earlier this month between Caracas and Washington, a US…

America is securing prices about 30% higher for Venezuelan crude than those obtained before President Nicolas Maduro's capture, said U.S. Energy Secretary.