The U.S. Has Authorized Its Companies To Produce And Export Venezuelan Oil

• 30.01.2026, 8:51

The new rules take into account sanctions against Iran, Cuba, DPRK and Russia.

The U.S. administration has granted broad permits for Venezuela's oil operations, paving the way for investment and production growth after the removal of dictator Nicolas Maduro.

It was reported by Reuters.

The U.S. administration decided to ease sanctions against Venezuela's oil industry, allowing U.S. companies to work with state-run PDVSA and the Venezuelan government under a broad license. This will make it easier to enter the Venezuelan market after political changes in the country.

The new rules allow transactions related to the production, export, refining, storage and transportation of Venezuelan oil. At the same time, gold or cryptocurrency settlement, transactions with Russian, Iranian, Cuban and North Korean companies, and transactions with vessels and firms controlled by these states are prohibited.

Major oil companies including Chevron, Repsol, ENI and Reliance Industries have already applied for permits to expand production and exports. U.S. oil services companies will also be given more freedom to operate in the Venezuelan market.

Venezuelan lawmakers, for their part, have passed a reform of the main oil law allowing more autonomy to private producers in joint ventures and new contracts.

The moves are expected to spur investment in Venezuela's oil industry and boost crude exports, including supplies for U.S. refineries.

It should be noted that oil was one of the main reasons why White House chief Donald Trump eliminated Maduro. The US president, even at the beginning of the pressure on Venezuela, demanded that the dictator return "stolen American assets."

The issue in question is, in particular, oil fields in Venezuela, where American companies produced oil, but under Maduro's predecessor, Ugo Chavez, the business was nationalized.