Venezuela’s Oil Flows Again — but Washington Holds the Tap

2026-02-17 - 12:15

Key Points — The US lifted sanctions on Venezuela’s oil sector, authorizing Chevron, Shell, BP, Repsol, and Eni to resume operations in the country with the world’s largest proven reserves. Venezuelan crude sales have already generated $1 billion since Maduro’s removal, with $5 billion more expected in coming months — all under US Treasury oversight.