US eyes easing Venezuela oil sanctions amid Middle East energy crunch — Bloomberg

The US administration intends to further ease sanctions on Venezuela’s oil sector in order to boost hydrocarbon production amid an energy crisis triggered by the conflict in the Middle East, Bloomberg reports, citing sources.

According to the agency, additional steps to soften the restrictions could be announced as early as this week. U.S. authorities, in particular, plan to issue several licenses allowing certain foreign companies to operate in the Bolivarian Republic.

Washington is also expected to introduce a mechanism that would enable a broader range of enterprises to conduct business in Venezuela.

Among the companies that may receive authorisation to operate in the country are India’s ONGC Videsh, Sweden-based Maha Capital AB, and Brazil’s J&F Investimentos.

By Khagan Isayev