US relaxes sanctions on Venezuela’s PDVSA amid global energy squeeze
Licence allows nation’s state oil group to sell directly to American companies and on international market
Licence allows nation’s state oil group to sell directly to American companies and on international market

Crude revenues to be funnelled to American banks as Washington prepares to lift some sanctions on Caracas

Shift in policy comes after US hostages were released by authoritarian leader Nicolás Maduro

Decision marks Washington’s latest move to increase pressure on Maduro regime in Caracas

Trump is seeking to convince sceptical US oil companies to invest in Latin American nation after overthrow of Maduro

Trump administration bets on US energy companies reversing the fall in crude output under Maduro

US banks are positioning themselves for long-term opportunities in energy and infrastructure