WASHINGTON, United States, Feb 11, 2026 (BSS/AFP) - The United States took further steps Tuesday to ease restrictions surrounding Venezuela's oil industry, broadening efforts to allow US companies to operate in the country after state controls were lifted on the sector. The US Treasury Department issued a license allowing some transactions involving Venezuela's government, as well as state oil firm PDVSA, to provide goods, tech and software "for the exploration, development, or production of oil or gas" in the country. Another license issued authorizes certain transactions necessary for port and airport operations, while a third document allows certain activities involving Venezuelan-origin oil. The Treasury's moves come as US Energy Secretary Chris Wright plans to travel to Venezuela for oil talks at an unspecified date, according to a US media report. Sanctioned by Washington since 2019, Venezuela sits on about a fifth of the world's oil reserves and was once a major crude supplier to the United States.

Source: Bangladesh Sangbad Sangstha February 11, 2026 15:15 UTC