US Treasury quietly extends permission for some oil and gas work in Venezuela

The US Treasury Department has re-issued two general licenses that allow certain oil and gas operations in Venezuela. This means specific companies can continue limited business activities there, despite broader sanctions.

The US has maintained strict sanctions on Venezuela's oil sector for years. These licenses create narrow exceptions, allowing some foreign companies to keep operating. This keeps a small amount of Venezuelan oil flowing to global markets and maintains some infrastructure, preventing a total collapse of the industry.