US eases sanctions on Venezuelan oil industry

The Trump administration on Thursday ‌eased some sanctions on the Venezuelan oil ⁠industry as it seeks to expand production there after U.S. forces ousted the ​South American country's President Nicolas ‍Maduro on January 3.

The U.S. Treasury issued a general license authorizing transactions involving ⁠the ‌government ⁠of Venezuela and state oil company PDVSA ‍that are "ordinarily incident and necessary to ​the lifting, exportation, reexportation, sale, resale, ⁠supply, storage, marketing, purchase, delivery, or transportation ⁠of Venezuelan-origin oil, including the refining of such oil, by ⁠an established U.S. entity."