The United States government is planning to expand the roster of trading companies authorized to purchase Venezuelan crude oil. Currently, companies such as Vitol Group and Trafigura Group are among the few permitted to engage in these transactions. The new policy aims to include additional trading firms, officials familiar with the matter said.
This move signals a potential shift in U.S. sanctions policy toward Venezuela’s oil sector, which has been heavily restricted in recent years. The Trump administration imposed sanctions intended to limit the Venezuelan government’s revenue from oil exports, often restricting the number of companies able to buy its crude. Opening the market to more trading companies could affect both the flow of Venezuelan oil and global oil markets.
Details about the specific companies to be authorized or the timeline for implementing the policy have not been publicly disclosed. Officials emphasized that the aim is to stabilize Venezuela’s oil industry while maintaining pressure on the government of President Nicolás Maduro. Observers will be watching closely to see how this change influences Venezuelan oil exports and broader U.S.-Venezuela relations.