The United States government has partially lifted sanctions on several Venezuelan state-owned banks, according to cnnchally.com.
The decision, announced Tuesday by the Office of Foreign Assets Control (OFAC), allows U.S. firms to engage in financial transactions with the Central Bank of Venezuela, Banco de Venezuela, Banco Digital de los Trabajadores, and Banco del Tesoro.
Under the new directive, permitted operations include account management, loans, transfers, insurance, guarantees, check services, and the use of digital wallets and credit or debit cards. However, the outlet reported that the move does not unfreeze assets or allow transactions related to other existing sanctions.
A cautious reentry
Analysts suggest the move represents a measured approach to re-engaging with the Venezuelan economy. Imdat Oner, an academic at Florida International University, told CNN that the United States is "reopening with caution the space for American companies to become involved in Venezuela."
Oner noted that the U.S. is not lifting sanctions broadly but is instead creating "very specific, legally protected channels for U.S. firms to operate."
He added that the authorization regarding the Central Bank of Venezuela is a critical component because it could facilitate contract negotiations in sectors like infrastructure and make it easier for foreign currency to enter the country through formal channels.
"The overall effect is to make it easier for U.S. companies to invest or do business in Venezuela, but only within strictly controlled parameters and in sectors with which the U.S. Government feels comfortable," Oner told CNN.
This shift follows a period of easing relations between Washington and Caracas. The easing comes after the U.S. military operation that led to the capture of Nicolás Maduro, which resulted in Delcy Rodríguez assuming the role of acting president.
While Rodríguez has criticized the operation that led to Maduro's arrest, she has expressed a willingness to maintain a relationship based on cooperation and respect with the United States. The Trump administration has responded by praising Rodríguez's leadership and lifting sanctions that had been against her since 2018.
Venezuela has also passed legal reforms to encourage foreign investment in the mining and hydrocarbon sectors. According to the report, these changes were requested by the Trump administration to provide necessary guarantees for American companies.
