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United States Energy Secretary Chris Wright visited Venezuela. He indicated that legitimate deals by Chinese companies will be acceptable. However, the Trump administration seeks to avoid deals that have harmed other nations in the region. Wright also mentioned that debt restructuring for past expropriations will take time.
U.S. Energy Secretary Chris Wright said during a trip to Venezuela on Wednesday legitimate deals by legitimate Chinese companies will be fine in Venezuela, but the Trump administration is trying to avoid "damaging" deals that Chinese firms have done in other countries in the region.
Wright, the highest ranking Trump administration official to visit Venezuela after the U.S. last month captured President Nicolas Maduro, said there needs to be debt restructuring deals to compensate companies after expropriations two decades ago in Venezuela, but those will not happen "overnight."
Wright also said that risk for energy companies investing in the country is lower after the government passed an oil reform last month, but the changes might not yet be enough to encourage large flows of capital.
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Source: EconomicTimes
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