Good morning from the Financial Times.
Today is Thursday, January 8th, and this is your FT News Briefing.
We have more details about how America wants to handle Venezuelan oil,
but the push to revive the oil industry might be a tall order.
There's just degradation everywhere.
Plus, there might be some traction on a Ukraine peace deal.
I'm Mark Filipino, and here's the news you need to start your day.
The U.S.
plans to control Venezuelan oil sales indefinitely.
U.S.
Energy Secretary Chris Wright announced this yesterday,
just days after the capture of Venezuelan President Nicolas Maduro.
We're just going to get that crude moving again and sell it, just like we did in our businesses.
First this backed up stored oil, and then indefinitely going forward,
we will sell the production that comes out of Venezuela into the marketplace.
Wright also said the U.S.
would funnel the proceeds to American banks.
and open up Venezuela to American oil companies.
And of course, in the long run,
create the conditions that the major American companies that were there before,