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The Economic Times

Economy / The Economic Times

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US eases Venezuela sanctions after oil sector reforms

America has eased sanctions on Venezuela's oil sector. This follows reforms allowing American companies to re-enter the industry. Venezuela's acting president hailed the move as historic. The United States is now in charge of Venezuela's oil. Millions of barrels of oil will be sold at market price. This reform aims to revive Venezuela's economy and restore dignity.

30 Jan 2026 7:50 am