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US Scales Back Venezuela Oil Sanctions

by Kyle Anzalone
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The US Treasury Department has relaxed its sanctions on Venezuela’s oil sector, allowing American companies to engage in certain transactions with the country’s state-owned energy firm.

In a general license issued on Wednesday, the Treasury outlined broad exemptions for the US oil sanctions, which had prohibited most trade with Caracas’s state-run oil company, Petróleos de Venezuela SA (PdVSA).

According to the . . .

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