US Treasury Eases Sanctions on Venezuela's Central Bank and State Financial Entities

The United States Treasury Department issued two new general licenses on April 14, 2026, lifting sanctions on the Central Bank of Venezuela and three other state-owned financial institutions, in the most significant easing of financial restrictions on Caracas since the Trump administration began normalizing ties following the removal of Nicolás Maduro. The licenses, signed by Bradley T. Smith, director of the Office of Foreign Assets Control, authorize a broad range of financial transactions with the Central Bank of Venezuela, Banco de Venezuela, Banco Digital de los Trabajadores, and Banco del Tesoro. The Central Bank of Venezuela had been under US sanctions since April 2019. The authorized operations include opening and managing bank accounts, granting loans, fund transfers, remittance services, issuance and use of credit and debit cards, foreign exchange transactions, and payment of salaries, pensions, and payroll.

Rodríguez calls the move necessary but insufficient Venezuela's acting president Delcy Rodríguez welcomed the licenses but immediately pressed Washington for a complete removal of all remaining sanctions, framing the demand as essential for attracting the foreign investment that both Caracas and the Trump administration have identified as a priority. Rodríguez had publicly requested relief from US financial pressure in the days before the announcement, describing it as "crucial" to emerge from the country's economic crisis. „We reiterate the need to advance towards a Venezuela free of sanctions, as a means of providing institutional legal certainty to investors coming to our country - a setting where they are guaranteed sustained investment over time and a forward-looking perspective” — Delcy Rodríguez via Al Jazeera Online Her government has faced protests from workers demanding higher wages and better pensions, reflecting frustration over Venezuela's sluggish economy. On the same day the licenses were announced, Rodríguez met with US Deputy Assistant Secretary of Energy Kyle Haustveit to discuss potential energy projects and regulatory changes. She also signed an agreement with oil company Chevron to expand its operations in Venezuelan territory, according to El Periódico. Rodríguez pledged to address workers' wage concerns on May 1.

Sanctions lifted as Venezuela nears hyperinflation again The financial relief arrives at a critical moment for the Venezuelan economy, which closed 2025 with inflation close to 500 (%) — Venezuela's annual inflation rate at end of 2025, with price pressures continuing to accelerate into 2026. Economist Alejandro Grisanti, quoted by El Periódico, described the elimination of sanctions on the Central Bank of Venezuela as the "most important move to normalize the Venezuelan exchange system," adding that without a functional central bank there is no exchange system and without an exchange system there is no sustainable stabilization. The demand for dollars had been exceeding available supply, pressuring the exchange rate outside the official market and accelerating inflation. Reconnection with international banking is expected to facilitate the entry of foreign currency and expand participation of more institutions in the exchange market. The measure also opens the path toward recognition by multilateral organizations, including the International Monetary Fund. US Treasury Secretary Scott Bessent, speaking at the IMF spring meetings in Washington, expressed support for the fund's efforts to reintegrate Venezuela. „The IMF is working to reincorporate Venezuela and make it look like a normal economy” — Scott Bessent via Deutsche Welle

The United States first imposed sweeping financial sanctions on Venezuela's central bank in April 2019, during the first Trump administration, as part of a broader campaign of economic pressure against the government of Nicolás Maduro. Those measures effectively cut Venezuela off from the international financial system for nearly a decade, according to El País, forcing banks and companies into a policy of over-compliance that severely restricted operations for both businesses and individuals. Since Maduro's capture and removal by US forces on January 3, 2026, the Trump administration has issued a total of 13 general licenses related to Venezuela — 11 before April 14 covering the oil, gas, electricity, and mining sectors, and two more on April 14 covering the financial system. The US Embassy in Caracas, which had been closed for approximately seven years, reopened in mid-March 2026 as part of the broader diplomatic normalization. Personal sanctions against Rodríguez herself were lifted on April 1, 2026.

New licenses exclude Russia, China, Iran, Cuba, and North Korea The financial opening carries notable geopolitical conditions: the Treasury licenses explicitly prohibit transactions involving entities or citizens of Russia, Iran, North Korea, and Cuba, and exclude companies controlled by China, according to El Periódico. This effectively ensures that the financial relief will be supervised in practice by the United States, channeling Venezuela's reintegration into the global economy through Washington-aligned institutions. The licenses are part of a broader pattern of incremental concessions exchanged between the two governments since Rodríguez took office. Venezuela's National Assembly passed a new Hydrocarbons Law and, more recently, legislation opening the mining sector to foreign investment, moves described as responses to demands from Washington. Venezuela holds the world's largest known oil reserves and is also rich in gold, diamonds, bauxite, and coltan. The Trump administration has made clear it views Venezuela as within its sphere of influence, and Secretary of State Marco Rubio has outlined a plan for stabilization, recovery, and transition for the country. The new licenses represent the 12th and 13th measures issued by OFAC regarding Venezuela since January 2026, underscoring the pace at which the two governments have been restructuring their relationship.

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