US Lifts Sanctions on Venezuela's Public Banking System
The Office of Foreign Assets Control (OFAC) also issued a license that permits "commercial transactions" with the Government of Venezuela, with prior authorization from Washington.
TL;DR
- The U.S. Treasury Department has lifted sanctions on Venezuela's public banking system.
- Key institutions affected include the Central Bank of Venezuela, Banco de Venezuela, Banco Digital de los Trabajadores, and Banco de Tesoro.
- A license has been issued by OFAC allowing commercial transactions with the Venezuelan government, requiring prior Washington authorization.
- These measures permit Venezuelan banks access to the U.S. financial system and legal operation with the dollar.
- The action is part of a broader effort to normalize relations between Washington and Caracas and ease economic sanctions.