Summary
Venezuela has passed a new law that allows more private companies to be involved in its national oil industry. This move aligns with a key request from President Donald Trump, as the U.S. has begun to ease sanctions on Venezuela.
Key Facts
- Venezuela's interim President Delcy Rodriguez signed a new law about the oil industry.
- The law permits more privatization in Venezuela's nationalized oil sector.
- This action is in response to a key requirement from U.S. President Donald Trump.
- The U.S. is starting to reduce sanctions against Venezuela.
- The changes are focused on increasing private sector participation in oil production.
