Since the Russian invasion of Ukraine, Russian ship fleets have turned to countries outside of the Western economic world to dodge increasing sanctions and oil caps.

The United States must consider its next steps, as the temporary license to ease restrictions on Venezuela’s oil sanction is set to expire on Thursday. The agreement's condition, which provides necessary breathing room for Venezuela's oil and gas sectors, would depend on President Nicolas Maduro making democratic progress by the upcoming election date of July 28.

As Ukraine struggles to keep the world’s attention on its struggle against Russian forces, one country has seemingly continued to pay attention: North Korea.

On Wednesday, Oct. 18, the Biden administration announced the softening of its sanction on oil, gas, and gold exports from Venezuela. The deal came one day after Venezuela’s incumbent leadership met with its opposition and agreed to hold democratic presidential elections in 2024.

The European Commission overcame its last hurdle in putting into place its Russian oil price cap this week.