“I had contacts with (Repsol’s) CEO, and we are analysing the decision and talking about it,” Albares said in an interview with TV channel Tele 5.

“We should not rush at this moment until we know the details about the decision, what it means and how it could affect and the margin there is for dialogue to solve the issue and resolve the differences or clarify the doubts the US administration may have,” he said.

Oil companies Maurel et Prom from France and Eni from Italy have said, during the weekend, that they were notified by the US government that respective licenses to operate in Venezuela were revoked.

In recent years, former President Joe Biden’s administration had granted authorisations to individual companies to secure Venezuelan oil for refineries from Spain to India as exceptions to the US sanction regime on the South American country.

Last week, Trump’s administration notified the companies it would revoke these authorisations, sources close to the decision told Reuters.

The companies that had received licenses and comfort letters from Washington also include India’s Reliance Industries and US Global Oil Terminals.