US to Ease Venezuela Oil Sanctions with General License, Boost Exports
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Firstpost•28-01-2026, 12:18
US to Ease Venezuela Oil Sanctions with General License, Boost Exports
- •The US plans to issue a general license to ease sanctions on Venezuela's energy sector, aiming to boost oil exports and investment.
- •This new approach replaces cumbersome individual company exemptions, streamlining approvals for projects and a proposed $2 billion oil supply deal.
- •The shift follows President Nicolas Maduro's capture and seeks to stabilize oil flows from the OPEC member, whose industry has suffered from sanctions and underinvestment.
- •The previous system of individual licenses led to bottlenecks, delaying efforts by major partners like Chevron, Repsol, and ENI to expand production.
- •The general license, potentially favoring US firms, combined with Venezuela's oil law reforms, could significantly open the country's oil sector.
Why It Matters: The US is moving to a general license to ease Venezuela oil sanctions, aiming to revive its energy sector.
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