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U.S. Eases Venezuela Oil Sanctions

HeadlineMay 18, 2022

The U.S. Treasury Department has eased some sanctions on Venezuela’s oil industry as part of an effort to increase oil supplies to Europe. Bloomberg reports the agreement could also eventually lead to the U.S.-based company Chevron resuming operations in Venezuela. The announcement comes just over two months after the Biden administration sent senior officials to Caracas. U.S. officials say the sanctions were lifted to promote talks between the government of Nicolás Maduro and opposition leaders.

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