US Treasury quietly extends Venezuela oil sanctions relief for another six months

The US Treasury Department has extended a license that allows certain transactions involving Venezuelan oil and gas. This means companies can continue to operate in Venezuela's energy sector without violating US sanctions, at least until mid-November.

The US has used sanctions to pressure Venezuela for years, but has also periodically offered limited relief to stabilize global oil markets. This extension signals that the US is not ready to fully re-impose sanctions on Venezuela's oil sector, likely due to ongoing concerns about global energy supply and prices. It allows companies with existing operations to maintain them, rather than forcing a disruptive exit.