The Big Story 

The U.S. is lifting some sanctions on Venezuelan oil, seeking to allow American firms to trade and sell more oil that is produced there.

© Evan Vucci, Associated Press

The move comes as the administration has said it will sell Venezuelan oil following its capture of leader Nicolás Maduro.

Previously, two commodities traders, Trafigura and Vitol, were given permission to help facilitate the sales.

The Treasury Department’s Office of Foreign Assets Control this week issued a general license that says U.S. companies can conduct some transactions related to the exploration, refining, sale or transport of Venezuelan oil.

Zack Hadzismajlovic, head of the global trade practice group at law firm McCarter & English, said that as a result of the move to lift the sanctions “for the first time in over six years, the exploitation of these oil resources…becomes possible.”

Read more at TheHill.com.

Welcome to The Hill’s Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

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On Our Radar 

Upcoming news themes and events we're watching:

Next week

• The House could vote on a bill that aims to boost domestic mining.

Tuesday

• The House Energy and Commerce Committee will hold a hearing on FERC. All five commissioners are slated to testify.
• The House Natural Resources Committee will hold a hearing on forestry and last year's Los Angeles wildfires

Wednesday

• The Senate Foreign Relations Committee will hold a hearing on European energy security
• The Senate Environment and Public Works Committee will hold a hearing on cybersecurity challenges for water infrastructure
• The House Natural Resources Committee will hold a hearing on conservation-related bills

What Others are Reading 

Two key stories on The Hill right now:

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Senate set to pass government funding bill Friday after Graham pledges to lift hold

The Senate is on track to pass a government funding package Friday afternoon after Sen. Lindsey Graham (R-S.C.) told colleagues that he will release his hold on the massive spending bill if he gets a vote on legislation to crack down on sanctuary cities. Read more