US to ease Venezuela sanctions to unlock more oil amid Iran war — reports

The Trump administration intends to take additional steps to ease sanctions on Venezuela's oil sector in an effort to increase crude production amid the ongoing Iran war, Bloomberg News reported on Tuesday, citing people familiar with the plan.

The moves, which could be announced as early as this week, include issuing more individual licenses allowing foreign companies to work in Venezuela without violating US sanctions, the report said.

-Akanksha Khushi/Reuters