U.S. partially eases Venezuela sanctions, allowing limited banking transactions
The United States has authorized a partial easing of sanctions on Venezuela, permitting certain financial transactions with key state-owned banks in a خطوة aimed at reopening limited economic engagement between the two countries.
In a notice issued by the Treasury Department’s Office of Foreign Assets Control (OFAC), U.S. companies and entities are now allowed to conduct transactions with several Venezuelan institutions, including the Central Bank of Venezuela, Banco de Venezuela, Banco Digital de los Trabajadores and Banco del Tesoro.
The authorization covers a broad range of financial services, such as opening and maintaining bank accounts, processing transfers, issuing loans, handling dollar-denominated transactions, and providing insurance and payment services. It also includes activities tied to wages, remittances, investments, and certain securities and commodities operations.
However, officials emphasized that the move does not lift all sanctions. Frozen Venezuelan assets remain blocked, and restrictions under other parts of the sanctions regime still apply. U.S. financial institutions are also required to continue complying with anti-money laundering rules and existing regulatory frameworks.
Analysts view the خطوة as a calibrated shift in Washington’s approach toward Caracas, allowing narrowly defined economic activity while maintaining broader pressure. Experts say including Venezuela’s central bank could help facilitate the flow of foreign currency through formal channels and potentially support negotiations in sectors like infrastructure.
The policy change comes amid a gradual thaw in relations between Washington and Caracas. Venezuela has recently introduced legal reforms aimed at attracting foreign investment in key industries such as oil and mining, moves that U.S. officials had encouraged to create clearer conditions for international companies.
Despite the easing, the measures stop short of a full rollback of sanctions, signaling a cautious, step-by-step approach by the United States.
