The United States further conditions the relaxation of energy-related transactions with Venezuela.

date
14/03/2026
Facing the pressure of rising prices of energy and other goods brought by the escalation of the situation in Iran, the US Department of the Treasury issued a document on the 13th, further conditionally relaxing transactions related to the energy industry such as oil and gas with Venezuela. The Office of Foreign Assets Control (OFAC) under the US Treasury Department issued three general licenses on that day, conditionally allowing US entities to engage in transactions related to Venezuelan oil or petrochemical products, provide goods and services to Venezuela for oil and gas and petrochemical product development or production, and negotiate or sign contracts with Venezuela in the oil and gas, petrochemical, or electricity sectors. Reuters and other media outlets cited a US Treasury Department official as saying that this authorization expands the scope of US investment and activities in the Venezuelan energy industry and allows Venezuela to export fertilizers directly to the United States.