United States issues license to allow its companies to exploit and trade Venezuelan crude oil

TL;DR

The U.S. Treasury Department has issued a license authorizing American companies in certain oil-related activities in Venezuela.
This license permits the exploration, sale, transport, and storage of Venezuelan oil and refined products for import into the U.S.
Contracts under this license must be governed by U.S. law and disputes resolved in U.S. territory.
This is a further step in the rapprochement between the U.S. administration and the interim government of Venezuela.
Previous sanctions relaxation included a license for U.S. companies dealing with Venezuelan gold.
The easing of sanctions occurs amidst global energy market turbulence and Iran's actions in the Strait of Hormuz.
The U.S. has also taken other measures like releasing strategic oil reserves and temporarily lifting restrictions on acquiring sanctioned Russian oil due to rising gasoline prices.

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