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U.S. Eases Sanctions on Venezuela to Boost Oil Supplies

3/18/2026

Summary

Story summary

The U.S. Treasury Department eased sanctions on Petróleos de Venezuela, S.A. (PdVSA), enabling transactions with the state-owned oil firm.
Payments for these transactions must go to a U.S.-controlled account.
The move aims to boost oil supplies amid rising prices from the Iran conflict.
It follows the U.S. military's capture of Nicolás Maduro and reflects U.S. President Donald Trump's strategy to stabilize oil markets including a 60-day Jones Act waiver.

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Story summary

The U.S. Treasury Department eased sanctions on Petróleos de Venezuela, S.A. (PdVSA), enabling transactions with the state-owned oil firm.
Payments for these transactions must go to a U.S.-controlled account.
The move aims to boost oil supplies amid rising prices from the Iran conflict.
It follows the U.S. military's capture of Nicolás Maduro and reflects U.S. President Donald Trump's strategy to stabilize oil markets including a 60-day Jones Act waiver.