This is the best summary I could come up with:

WASHINGTON, Oct 18 (Reuters) - The Biden administration on Wednesday broadly eased sanctions on Venezuela’s oil sector in response to a deal reached between the government and opposition parties for the 2024 election - the most extensive rollback of Trump-era restrictions on Caracas.

U.S. Secretary of State Antony Blinken welcomed President Nicolas Maduro’s electoral concessions but said Washington has given him until the end of November to begin lifting bans on opposition presidential candidates and start releasing political prisoners and “wrongfully detained” Americans.

It also represents a significant step in the increased engagement of President Joe Biden’s administration with Maduro on issues ranging from energy to migration, a shift from Trump’s “maximum pressure” campaign against the socialist government.

Venezuela ruling party official Jorge Rodriguez, who leads the government’s negotiating team at talks with the opposition, said on state television later on Wednesday that the sanctions relief affected all oil activities.

Blinken said in a statement that the U.S. was acting “consistent with our longstanding commitment to provide U.S. sanctions relief in response to concrete steps toward competitive elections and respect for human rights and fundamental freedoms.”

The deal they announced said each side can choose its 2024 candidate according to its internal rules but did not reverse bans on some opposition figures - including Oct. 22 primary frontrunner Maria Corina Machado - that prevent them from holding office.

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