U.S. waives Venezuela oil sanctions as Trump signals visit

In a significant shift in policy, the U.S. Treasury Department's Office of Foreign Assets Control has issued general licenses allowing major oil companies, including BP, Chevron, Eni, Repsol, and Shell, to engage in operations within Venezuela's oil and gas sector. This move is contingent upon certain conditions but signals a potential thaw in U.S.-Venezuela relations, aimed at stabilizing global oil markets amidst rising prices. The decision comes as former President Donald Trump hints at a possible visit to Venezuela, a country that has been under stringent U.S. sanctions due to its political climate and human rights issues. Analysts suggest that this could be an attempt by the U.S. to leverage its influence in the region and address the increasing demand for oil resulting from geopolitical tensions. The situation remains fluid as the U.S. navigates its foreign policy objectives while responding to domestic and international economic pressures, particularly in the energy sector.