The United States government lifted sanctions on Venezuela's public banking system on Tuesday, according to reports from cooperativa.cl.
The measure, announced by the U.S. Treasury Department, includes the Central Bank of Venezuela and the Banco de Venezuela. The decision also covers the Banco Digital de los Trabajadores, the Banco de Venezuela, and the Banco de Tesoro.
Any entity where these institutions hold a direct or indirect stake of 50% or more is now exempt from the previous restrictions, the outlet reported.
Financial reintegration
The Treasury Department’s Office of Foreign Assets Control (OFAC) issued a license allowing "commercial transactions" with the Venezuelan government, provided they receive prior authorization from Washington.
Without these restrictions, Venezuela's primary banking institutions can re-enter the U.S. financial system. This allows them to operate legally using the U.S. dollar again.
These new directives follow the removal of Delcy Rodríguez, Venezuela's interim president, from the U.S. sanctions list less than two weeks ago. The move signals a further thawing of relations between Washington and Caracas.
Diplomatic ties between the two nations, which broke in 2019, have seen a period of normalization. This follows the arrest of Nicolás Maduro in Caracas during a U.S. military intervention earlier this year.
The Trump administration has been gradually easing the strict economic sanctions imposed during his 2017-2021 term. Washington previously used these measures as a strategy to pressure Maduro to leave power, according to the report.
