US Plans to Issue License for Firms to Pump Venezuelan Oil (1)

The US government is preparing to issue a general license allowing companies to pump oil in Venezuela, part of the Trump administration’s plan to ease sanctions and rebuild the nation’s moribund energy industry.

The new license could be issued by the Treasury Department as soon as this week, according to people familiar with the measure who asked not to be identified because they weren’t authorized to speak publicly. The Treasury Department didn’t immediately respond to requests for comment.

“The President’s team is working around the clock to ensure oil companies are able to make investments in Venezuela’s oil infrastructure. Stay ...