Month: October 2020

Venezuelan President Nicolas Maduro has drafted legislation to grant his government expanded powers to confidentially sign new oil deals with private firms and foreign nations as a way of getting around U.S. sanctions, according to the proposal and people familiar with the initiative. Maduro delivered the ‘anti-blockade’ bill on Tuesday to the government-aligned Constituent Assembly, a parallel legislature he created to bypass the opposition-controlled congress. The draft legislation, seen by Reuters, allows the government to modify the ‘constitution, ownership, management, and administration’ of Venezuela’s public and semi-public companies.

Venezuelan President Nicolas Maduro has drafted legislation to grant his government expanded powers to confidentially sign new oil deals with…