US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

Associated Press (AP)CenterEN 4 min read 100% complete by By FATIMA HUSSEIN and REGINA GARCIA CANOMarch 18, 2026 at 03:23 PM

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The U.S. government has eased sanctions on Venezuela's state-owned oil and gas company, PDVSA, allowing U.S. companies to conduct business with them. The Treasury Department issued an authorization permitting PDVSA to sell Venezuelan oil directly to U.S. companies and on global markets. This policy shift comes as the Trump administration seeks to increase global oil supplies amidst the ongoing Iran war. Additionally, President Trump will temporarily waive Jones Act requirements for 60 days, allowing goods to be shipped between U.S. ports on non-U.S. flagged vessels. These actions aim to alleviate rising oil prices as the U.S. and Israel engage in conflict with Iran.

Key Entities & Roles

Key Player Opposition Context

Gulf of Venezuela 30% Port of Los Angeles 30% Israel 40% Washington, D.C. 50% Treasury Department 50% Iran ×370% Donald Trump ×270% Petróleos de Venezuela S.A (PDVSA) ×270% Venezuela ×580% United States ×590%

Keywords

oil sanctions 90% venezuela 80% oil supply 70% iran war 70% pdvsa 60% trump administration 60% jones act 50% oil prices 50% strait of hormuz 40%

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Associated Press (AP)

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Far LeftCenterFar Right

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90%

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United States

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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oil sanctions venezuela oil supply iran war pdvsa trump administration jones act oil prices strait of hormuz

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