The U.S. may ease restrictions on Venezuela's oil industry, allowing many foreign companies to enter.

U.S. May Ease Sanctions on Venezuela's Oil

Bloomberg, citing sources, reported that in the context of an energy crisis, Washington is considering further easing restrictions on Venezuela's oil industry.

According to the media, several foreign companies may obtain licenses to operate in Venezuela, including India's ONGC Videsh, Sweden's Maha Capital AB, and Brazil's J&F Investimentos.

The U.S. move is mainly aimed at alleviating domestic and global energy shortages and increasing oil supply. Allowing companies from India, Sweden, and Brazil to enter Venezuela's oil and gas sector is a way to bypass direct sanctions exemptions and indirectly ease restrictions on Venezuela. This is another step towards practicality and softening of U.S. policy toward Venezuela, consistent with the previous trend of gradually easing restrictions on Venezuela's oil exports.

Original: toutiao.com/article/1859965167749132/

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