The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has eased restrictions on oil operations in Venezuela, allowing for the negotiation of new investments. This update aims to stimulate oil production and improve electrical infrastructure within Venezuela by authorizing technical services and studies. However, significant limitations remain, including a prohibition on establishing new joint ventures. The supply of diluents is also still vetoed under the revised guidelines. The move signals a shift in U.S. policy toward Venezuela, potentially opening doors for increased economic activity. This change comes as the United States seeks to encourage increased energy supply and facilitate dialogue with the Venezuelan government. The announcement first appeared on EL NACIONAL.