Venezuelan National Assembly lawmaker Julio Chavez

Venezuela should be cautious about the partial lifting of US sanctions, according to Venezuelan National Assembly lawmaker Julio Chavez to Sputnik.

"We should look at things with caution, I think that this decision by the United States government fits into the 'stick and carrot' policy. On the one hand, easing, on the other, cracking down, this is, of course, how it happens," Chavez, a member of the ruling United Socialist Party of Venezuela (PSUV), said.

The US Department of Treasury, according to a senior US administration official, has issued a license that allowed oil companies such as Chevron, to conduct talks with the Venezuelan government regarding future activities in the country.

Venezuela could supply oil to West in mid-2022 if sanctions removed

Venezuela could begin supplying oil to the United States and Europe in the middle of 2022, provided that the West removes the sanctions they imposed on Caracas, Venezuelan National Assembly oil and energy committee chairman Angel Rodriguez told Sputnik.

"If the [unilateral] measures are suspended ... considering what we have already achieved at the moment, we could supply energy that the US and Europe need so much in the middle of the year," the Venezuelan official said.

He revealed that for Caracas and Washington to strike a deal, the latter should make Venezuela an offer, Rodriguez said, explaining that the key factor disrupting the country's economic situation is the US itself.

The legislator hoped that a possible resumption of oil exports to the US and Europe would not affect Caracas' relations with Moscow.

Read more: US trying to sign energy deals with Iran, Venezuela

Venezuela could supply oil to West in mid-2022 if sanctions removed