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ECONOMISTS have described the recent news that the US government has revoked TT’s OFAC licences as “unfortunate but not unexpected,” minutes after the Prime Minister announced it on April 8.

Stuart Young told reporters at Whitehall in Port of Spain the US government had informed him in a letter that OFAC licences which gave TT permission to operate in the Manakin-Cocuina gas field and the more well-known Dragon gas field, were revoked.

Gregory Mc Guire told Newsday this puts TT in a dire position, not just in the short-medium term.