UNITED STATES companies will be allowed to do business with Venezuela’s state-owned oil and gas company after the Treasury Department eased sanctions, with some limitations, on Wednesday as the Trump administration looks for ways to boost world oil supplies during the Iran war. The Treasury issued a broad authorisation allowing Petróleos de Venezuela SA, or PDVSA, to directly sell Venezuelan oil to US companies and on global markets – a massive shift after Washington for years had largely blocked dealings with Venezuela’s government and its oil sector.