Donald Trump has eased some sanctions on Venezuelas oil industry and said US oil companies were on the ground carrying out site assessments for potential operations. Photograph: Gaby OraaBloomberg via Getty ImagesView image in fullscreenDonald Trump has eased some sanctions on Venezuelas oil industry and said US oil companies were on the ground carrying out site assessments for potential operations. Photograph: Gaby OraaBloomberg via Getty ImagesVenezuela approves bill to open oil sector to foreign investment after US pressureLaw will give private companies more control but experts unsure whether changes go far enough for USVenezuelas acting president has signed into law a bill making significant changes to the countrys oil sector after pressure from the US to open it up to foreign private investment.The new hydrocarbons law promises to give private companies control over oil production and sales, ease taxes and allow for independent arbitration of disputes, while largely maintaining state control over oil production.Analysts remain cautious about the laws practical application, arguing that the text lacks clarity and that the changes, while welcome, are insufficient to deliver the overhauls sought by the US as it attempts to revive Venezuelas battered oil industry.Were talking about the future. We are talking about the country that we are going to give to our children, said Delcy Rodríguez, the acting president, who signed the law shortly after its approval by congress.The c
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