which provides “a clear and structured legal framework” under US law for certain oil and gas activities in Venezuela and along “our shared maritime border”. Prime Minister Kamla Persad Bissessar in a statement posted on X, said that “as a longstanding close partner of the United States, Trinidad and Tobago views this development as an important opportunity to deepen hemispheric energy cooperation, strengthen regional stability, and reinforce trusted commercial ties. “We are optimistic about the potential to enhance our role as a responsible energy hub in the Caribbean, supporting domestic industry, safeguarding jobs, and contributing to reliable supply chains that benefit the wider region,” she wrote. Persad-Bissessar said that Trinidad and Tobago will proceed in full compliance with applicable legal and regulatory requirements “and in keeping with our commitment to transparency and sound governance”.

According to the license “any payment of oil or gas taxes or royalties to the government of Venezuela, PdVSA or any PdVSA entity must be paid to the Foreign Government Deposit Funds or any other account as instructed by the US Department of Treasury”. It states further that the general license does not authorize “payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are dominated in digital currency, digital coin or digital tokens issued by, for, or on behalf of the Government of Venezuela”. Following the United States military incursion into Venezuela last month and the detention of President Nicolas Maduro and his wife on drugs and illegal weapons charges, Washington announced that it would be running the South American country for the foreseeable future.

Prime Minister Persad-Bissessar had publicly supported the United States military presence in the Caribbean after Washington had initially said it was intended to put an end to the illegal drugs trade. In April 2025, the United States revoked the Office of Foreign Assets Control (OFAC) licenses that had permitted Trinidad and Tobago to develop the Dragon and Manakin-Cocuina natural gas fields in partnership with Venezuela. (CMC)