U.S. Considers Loosening Sanctions on PDVSA for Chevron

The Trump administration may soon authorize Chevron and other European partners to engage with Venezuela's state-owned oil company, PDVSA, despite ongoing sanctions. According to sources, this move could signify a shift in the U.S.'s earlier pressure tactics against Venezuela.

The potential new authorizations represent a significant change from the U.S. policy enforced at the start of the year, which aimed at isolating Nicolas Maduro's government economically. Allowing limited operations may lead to a more collaborative approach with key partners.

While confirming the review of existing sanctions, the U.S. State Department emphasized that any arrangements will prevent profit-making for Maduro's regime. The decision, if enacted, will need to balance diplomatic advancement against practical sanctions enforcement.

(With inputs from agencies.)