Venezuela’s Rodriguez signs oil law, US eases sanctions

Venezuela’s interim President Delcy Rodriguez signed a reform bill allowing increased privatisation in the nationalised oil sector, meeting a demand from US President Donald Trump. The legislation gives private firms control over Venezuelan oil sales and production, with legal disputes to be resolved outside Venezuelan courts. The Trump administration will loosen some sanctions on Venezuelan oil sales, aiming to attract outside investment. The move follows Maduro’s abduction and aims to make Venezuelan oil more appealing to foreign companies.

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