US eases sanctions on Venezuela in bid to boost oil production
Kyiv • UNN
The US Treasury Department has authorized transactions with Venezuela's PDVSA to stabilize global prices. The decision aims to increase fuel supply.
The United States has allowed its companies to resume limited cooperation with Venezuela's state oil company PDVSA. The decision was made amid the war with Iran and a sharp rise in global energy prices. This is reported by AP, writes UNN.
Details
The Treasury Department issued a general license that allows transactions with Venezuelan oil, including sales to American and global markets. This is one of the biggest steps to ease sanctions in recent years.
Attempt to stabilize the market
The White House explains that the decision is aimed at increasing the global oil supply after disruptions due to the war and the blocking of the Strait of Hormuz.
In parallel, the Donald Trump administration is temporarily relaxing rules for transporting fuel between US ports to reduce logistics costs and curb prices.
Sanctions remain partially
Despite the easing, the restrictions have not been completely lifted – some operations are controlled by the US, and payments go through special mechanisms.
Experts believe that this step can help the market, but there will be no quick effect – restoring production in Venezuela requires time and investment.
US prepares to ease sanctions on Venezuela due to oil crisis18.03.26, 02:50 • 8596 views