US Eases Sanctions on Venezuela Central Bank, Reopens Dollar Access
US Eases Sanctions on Venezuela Central Bank, Reopens Dollar Access
The US Treasury issues temporary licenses easing sanctions on Venezuela's central bank and major state banks, restoring dollar transactions and market access.
The United States has eased sanctions on Venezuela’s state-run financial institutions, issuing licenses that will allow them to conduct transactions in US dollars and re-enter the global financial system. The Central Bank of Venezuela (BCV), along with Banco de Venezuela, Banco Digital de los Trabajadores and Banco del Tesoro, were included in the licensing package announced by the US Treasury's Office of Foreign Assets Control (OFAC). The licences are described as temporary measures rather than a full lifting of sanctions.
The move is presented as a sign of warming relations between Washington and the interim Venezuelan government led by Delcy Rodríguez. Rodríguez, who has served as interim president since Maduro’s ouster, has pressed for full relief from sanctions to stabilize the economy and open oil revenue flows. The licences come after a period of strained ties and amid ongoing diplomacy.
Under the licences, these lenders can legally use US dollars and resume certain cross-border transactions with US entities, something that has been difficult since sanctions were imposed in 2019. Officials say this could help channel earnings from Venezuela’s oil sales to the United States through legitimate channels and ease the clearing of international payments.
OFAC's director Bradley T. Smith signed the licences. The agency emphasized that the licences are temporary and do not guarantee long-term legal certainty, and officials cautioned that the relief could be reversed if policy changes occur. Rodríguez recently told visiting US officials that the temporary nature means conditions can change and stability is not guaranteed.
The broader context includes ongoing diplomatic discussions between Caracas and Washington as both sides consider steps toward greater normalization. The statement reflects a wider re-calibration in US policy toward Caracas, while critics warn the move may be limited in scope and contingent on future actions by the regime.
