US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war
Published on: March 18, 2026, 7:46 p.m. | Source: The Economic Times
US companies can now do business with Venezuela's state oil firm, Petroleos de Venezuela SA. The US Treasury Department has eased sanctions, allowing direct oil sales. This move aims to increase global oil supplies amid the ongoing war with Iran. Global oil prices have risen as Iran disrupted traffic through the Strait of Hormuz.
