De-escalation: U.S. eases sanctions on Venezuelan oil sector

The U.S. Treasury on Feb. 10 issued two general licenses easing sanctions on Venezuela’s energy sector. The licenses let global energy companies engage in oil and gas operations in the country, including exploration and production. They also authorize U.S. firms to provide equipment and technology for oil production.

Oilfield service contractors are cleared to return to work in Venezuelan fields. The change reopens on‑the‑ground activity that earlier restrictions had shut down and allows companies to support drilling and field maintenance.

AI-synthesized from multiple reported sources