New Delhi, April 15 -- The US has relaxed sanctions on Venezuela's central bank as the Trump administration seeks to revive the country's oil industry following the capture of former president Nicolas Maduro. The Treasury issued a general license permitting financial institutions to engage with the central bank and select other entities in the country.

The move enables acting Venezuela President Delcy Rodriguez to make transactions with international banks after a seven-year ban stemming from US sanctions imposed during Trump's first term. It's a key step toward easing economic bottlenecks in Venezuela that have delayed payments to local oil companies and undermined President Donald Trump's plan to quickly boost crude production.

The ac...