In a significant policy shift, the U.S. has eased sanctions on Venezuela's energy sector, allowing major oil companies such as Chevron, BP, Eni, Shell, and Repsol to resume operations in the country. This development, reported by multiple sources including Business Recorder and The Frontier Post, follows the issuance of two general licenses by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). These licenses permit transactions related to oil and gas operations, contingent on payments being routed through the U.S.-controlled Foreign Government Deposit Fund. The move is part of a broader strategy to encourage $100 billion in energy investments in Venezuela, as noted by The Economic Times. U.S. Energy Secretary Chris Wright emphasized that the embargo on Venezuelan crude is 'essentially over,' and highlighted the potential for increased production to improve economic conditions in Venezuela (South China Morning Post).