The Donald Trump administration is considering further easing sanctions against Venezuela as early as next week to facilitate oil exports. This was stated by US Treasury Secretary Scott Bessent in an interview with Reuters, writes UNN.
Details
According to Bessent, the government plans to "de-sanction oil that will be sold" to accelerate the country's economic recovery after the detention of Nicolás Maduro.
Oil investments and unblocking IMF assets
Bessent confirmed that the US aims to attract major players such as Chevron, Exxon Mobil, and ConocoPhillips to invest about $100 billion in Venezuela's dilapidated infrastructure.
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In addition to private capital, the minister plans to discuss with the leadership of the IMF and the World Bank the use of almost $5 billion in blocked assets (special drawing rights) belonging to Venezuela for humanitarian and recovery needs.
Market stabilization and revenue control
The White House's strategy is to establish control over sales of Venezuelan crude. In particular, the issued licenses (waivers) stipulate that a significant portion of the oil must be supplied to the American market to reduce domestic fuel prices. Profits from these operations will be accumulated in special accounts of the US Treasury under the supervision of American agencies to prevent their use to finance the remnants of the former regime.