An oil refinery in Venezuela. oil field
An oil refinery in Venezuela Image Credit: Bloomberg

Washington: The United States is preparing to ease some sanctions on Venezuela to allow Chevron Corp to resume pumping oil there, the Wall Street Journal reported on Wednesday, citing people familiar with the proposal.

In exchange for the sanctions relief, the government of Venezuelan President Nicolas Maduro would resume talks with the country's opposition to discuss conditions needed to hold free and fair presidential elections in 2024, according to the proposals cited by the newspaper.