U.S. Treasury Secretary Scott Bessent has announced that additional sanctions on Venezuela could be lifted as early as next week. This move is part of the Trump administration’s strategy to stabilize the country following the recent capture of former leader Nicolás Maduro by U.S. forces.
According to Reuters, The Treasury aims to facilitate oil sales and ensure the proceeds are repatriated to Venezuela to fund government operations, security services, and aid for the people. President Trump has already signed an executive order protecting Venezuelan oil revenue in U.S. accounts from creditors.
Bessent plans to meet with the heads of the IMF and World Bank next week. A key goal is to mobilize approximately $5 billion in frozen IMF Special Drawing Rights (SDRs) to help rebuild the Venezuelan economy.
While major oil companies like Exxon Mobil remain cautious due to past nationalizations, Bessent expects smaller private firms and established players like Chevron to move quickly back into the market. The U.S. Export-Import Bank may also play a role in financing the oil sector’s recovery. The lifting of sanctions addresses a major hurdle for Venezuela’s complex $150 billion debt restructuring, which is seen as essential for attracting private capital back to the country.
US Escalates Pressure on Venezuela with New Sanctions and Military Action
