U.S. Revisits Oil Sanctions Amid Venezuela Oil Policy Shift

The Trump administration is considering easing sanctions to allow Chevron and other partners to operate in Venezuela under certain limitations. This potential change marks a shift from the previous U.S. policy of applying pressure on President Maduro's government. The move follows recent diplomatic developments.

The Trump administration is in discussions to potentially ease sanctions on Venezuela's state-run oil company PDVSA by allowing key partners like Chevron to operate with limitations, sources revealed on Thursday.

If approved, this would signify a shift from Washington's earlier stance aimed at pressuring the government of President Nicolas Maduro. Diplomatic ties recently improved following a prisoner exchange.

While a senior State Department official declined to comment on specific licenses, they assured that any policy changes would prevent Maduro's government from financially benefiting.

(With inputs from agencies.)