US eases Venezuela sanctions to allow major energy investments and oil operations

The US Treasury today issued licenses allowing energy firms to resume operations in Venezuela. This follows the recent removal of President Nicolas Maduro.

Insights:
The U.S. Treasury's Office of Foreign Assets Control (OFAC) issued two general licenses on February 13, 2026, easing sanctions on the energy sector of Venezuela VEVE. This policy shift by the US USUS, overseen by the administration of Donald Trump, allows major international oil companies to resume oil and gas operations and permits firms to negotiate and contract new energy investments. The action is described as the most significant relaxation of sanctions since U.S. forces captured and removed President Nicolas Maduro last month, altering the legal framework governing transactions and proceeds in the region.
Venezuela's interim President Delcy Rodriguez, U.S. Energy Secretary Chris Wright and U.S. Charge d'Affaires for Venezuela Laura Dogu visit oil production facilities at the joint venture between Chevron and state oil company PDVSA in the Orinoco Oil Belt, following an agreement to pursue long-term energy cooperation after recent sanction relief and legal reforms that opened Venezuela's oil sector
Venezuela's interim President Delcy Rodriguez, U.S. Energy Secretary Chris Wright and U.S. Charge d'Affaires for Venezuela Laura Dogu visit oil production facilities at the joint venture between Chevron and state oil company PDVSA in the Orinoco Oil Belt, following an agreement to pursue long-term energy cooperation after recent sanction relief and legal reforms that opened Venezuela's oil sector
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