Published by Global Banking & Finance Review®
Posted on March 30, 2025
1 min readLast updated: January 24, 2026
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The US has ended oil payments from Venezuela's PDVSA to Eni, impacting gas production. Eni is exploring options to ensure non-sanctioned gas supplies are remunerated.
ROME (Reuters) - Italy's Eni confirmed on Sunday it was notified by U.S. authorities it would no longer be allowed to be repaid for gas production in Venezuela through oil supplies given by Venezuelan state oil company PDVSA.
Reuters had reported on Saturday that the U.S. government had notified foreign partners of PDVSA, which include Eni, of the imminent cancellation of authorizations that allow them 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 Italian energy company said in a statement.
"Eni always operates in full compliance with the international sanctions framework," it added.
Venezuela's President Nicolas Maduro has criticized the sanctions, saying they amount to an "economic war."
(Reporting by Francesca Landini, writing by Alvise Armellini, editing by Alexandra Hudson)
The main topic is the US ending oil payments from Venezuela's PDVSA to Eni, affecting gas production and international relations.
Eni is engaging with US authorities to find options for ensuring non-sanctioned gas supplies can be remunerated by PDVSA.
Venezuela's President Nicolas Maduro criticizes the sanctions, describing them as an 'economic war.'
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