Donald Trump authorized the easing of sanctions on Petróleos de Venezuela SA to increase global oil supplies during the conflict with Iran.The US Treasury Department issued a license allowing American companies to purchase Venezuelan crude through strictly monitored US-controlled accounts.A sixty-day waiver of the Jones Act accompanied this shift to permit foreign-flagged vessels to transport energy products between domestic ports.These measures aim to lower gasoline prices following the closure of the Strait of Hormuz while maintaining bans on trade with
Russia and North Korea.