Source: BloombergMost Read from BloombergThe Trump administration issued a general license expanding the ability of oil companies to operate in Venezuela, marking a significant step to ease sanctions under the new US-backed leadership in Caracas. The license issued by the US Treasury Department Thursday covers a variety of activities that could expedite the movement of Venezuelan crude, including exporting, selling, storing and refining that oil. China has been a major buyer of sanctioned — and therefore steeply discounted — Venezuelan crude before Maduro’s capture. “It basically waives the prohibition on working with” PDVSA, Venezuela’s state oil company, to handle the country’s crude. And the Treasury Department is also requiring a “detailed report” on transactions in which Venezuelan oil ultimately is sold or sent to other countries — another potential deterrent.