U.S. grants oil refiner Nynas more time amid Venezuela sanctions

The U.S. Treasury Department on Friday extended the time for companies to conduct business with Swedish oil refiner Nynas, which fell under U.S. sanctions imposed on Venezuela, through May 14.

The department, in a notice on its website, extended the general license authorizing certain activities involving Nynas, which is owned by Venezuela's state-run PDVSA and Finland's Neste Oil and has been seeking to reorganize in an attempt to disentangle itself from the sanctions.