US Eases Sanctions on Venezuela for Oil and Fertilizer Trade

According to the International Desk of Webangah News Agency, the United States Treasury Department on Friday eased some sanctions on Venezuela, making it easier for American businesses and farmers to purchase oil and fertilizer from the country. This decision comes as prices are rising due to military aggression against Iran. The Office of Foreign Assets Control (OFAC) of the Treasury Department updated several Venezuela-related licenses to expand permitted investments and activities in the energy sector. A U.S. Treasury official stated that these licenses were issued to help revive Venezuela’s energy sector while also supporting the global supply of essential commodities. The official added in a statement, “These licenses expand permitted investment and activities in Venezuela’s energy industry and allow fertilizer to be exported directly to the United States to support large American farmers.” This move occurs as supply disruptions in the Strait of Hormuz, due to military aggression by the United States and the Zionist regime against Iran, have increased global oil and fertilizer prices.