US to Ease Venezuela Sanctions to Unlock More Oil Amid Iran War
An oil tanker carries a shipment of Venezuelan oil in Freeport, Texas, on Jan. 16.
Photographer: Mark Felix/BloombergThe Trump administration intends to take additional steps to ease sanctions on Venezuela’s oil sector in an effort to increase crude production as the Iran war sends prices surging.
The moves, which could be announced as early as this week, include issuing more individual licenses allowing foreign companies to work in Venezuela without violating US sanctions, according to people familiar with the plan who asked not to be named because the plan isn’t public.