U.S. eases sanctions on Venezuela’s state oil company as oil prices rise during Iran war

What exactly changed in the sanctions policy?

The Treasury Department issued a broad or general authorization that lets U.S. companies conduct transactions with PDVSA and, in the reporting, allows PDVSA to sell Venezuelan oil directly to U.S. companies and global buyers Watertown Daily Tim…,Investing.com,Hindu,Reuters.

Why did the U.S. ease the sanctions now?

The reports say the administration is trying to increase global oil supply and ease pressure on energy prices during the war with Iran Watertown Daily Tim…,Yahoo! Finance,Estadão.

Did the U.S. lift all sanctions on PDVSA?

No. Multiple reports say the authorization came with limitations and did not remove all sanctions on PDVSA Watertown Daily Tim…,gCaptain,OBOZREVATEL,Deutsche Welle.