[Trump Eases Sanctions on Venezuelan Oil and Fertilizers to Alleviate U.S. Inflation Pressure] Jin10 News, March 14 – Due to the Iran war causing a rise in Venezuelan fertilizer and oil prices, the U.S. Treasury Department on Friday simplified the process for American businesses and farmers to purchase Venezuelan fertilizers and oil. The Iran conflict has disrupted oil tanker transportation in the Persian Gulf, leading to a surge in oil and fertilizer prices. This could potentially trigger inflation and drive up food prices in the U.S. U.S. Treasury Secretary Besent hopes to increase U.S. oil supply and lower oil prices by reducing sanctions on oil-rich Venezuela. The Office of Foreign Assets Control, which manages sanctions, has taken separate actions to authorize American businesses and farmers to purchase and import Venezuelan petrochemical products such as fertilizers and oil; provide goods, services, or technical support to Venezuela's power and petrochemical industries; negotiate new contracts to develop Venezuela's oil and gas supplies; or modernize and improve its power grid to help boost oil production.