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March 18, 2026
The United States has issued a general license authorising certain deals involving Venezuela’s state oil company PDVSA, the US Treasury Department said on Wednesday.
The waiver to sanctions that President Donald Trump imposed on PDVSA in 2019 during his first term was the latest move by the administration to ease measures on Venezuela after US forces seized President Nicolas Maduro in January.
The impact of the waiver was not immediately certain as Venezuela’s oil sales are now being managed by the US with proceeds deposited in US-controlled accounts and then being distributed to Venezuela’s interim government.
Trump is trying to get energy companies to invest US$100 billion in Venezuela’s dilapidated oil business, which has suffered from years of neglect, corruption and US sanctions. (Reuters)
