The US has withdrawn certain sanctions against Venezuela, including those imposed in 2019, following the seizure of President Nicolas Maduro and a global spike in oil prices due to the U.S.-Israeli war with Iran. Venezuela's 2031 global issue rose 1.75 cents to 50.25 cents on the dollar, while PDVSA's 2027 bond added 1.85 cents to 35.35 cents. The waiver was part of a broader effort to rebuild Venezuela's oil infrastructure and bolster its coffers, potentially delaying the timeline for a debt restructuring that could involve nearly $150 billion.