U.S. Moves to Ease Oil Sanctions on Venezuela: A Policy Shift in Energy Diplomacy

The United States is considering issuing new authorizations to allow Chevron and other key partners of PDVSA to operate in Venezuela with restrictions, sources disclosed on Thursday. The potential policy shift would enable these companies to swap oil and make essential imports, altering the pressure strategy Washington has enforced since 2019.

Although the specifics of the licenses remain undisclosed, a senior State Department official hinted that any benefits to Venezuela's government would be curtailed. This move follows a recent prisoner swap and attempts to moderate deteriorated U.S.-Venezuela relations, with Chevron's operations being a focal point of these discussions.

Amid evolving diplomatic strategies and oil market dynamics, licenses allowing Western companies to work in Venezuela could stabilize oil supplies and impact geopolitical ties, as U.S. officials balance diplomatic pressures with economic interests.

(With inputs from agencies.)