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US may lift more Venezuela sanctions next week, Bessent says
The U.S. plans to deploy nearly $5 billion in frozen IMF funds to rebuild Venezuela’s economy and ease oil sales by lifting sanctions, Treasury Secretary Scott Bessent said.
- On Jan 10, U.S. Treasury Secretary Scott Bessent told Reuters additional U.S. sanctions on Venezuela could be lifted, `It could be as soon as next week`, and he will meet next week with IMF and World Bank leaders.
- U.S. sanctions have barred international banks and other creditors from engaging with Venezuela, blocking repatriation of oil-sale proceeds held on ships and complicating a $150 billion debt restructuring.
- Venezuela holds about 3.59 billion SDRs worth about $4.9 billion, and Bessent said almost $5 billion of frozen IMF assets could be converted by the U.S. Treasury for rebuilding.
- The administration moved to shield Venezuelan oil revenue by President Donald Trump signing an executive order blocking courts from impounding funds in U.S. Treasury accounts, safeguarding them to support the Venezuelan government and security services.
- Smaller privately held oil companies are likely to re-enter Venezuela quickly despite Exxon Mobil's reluctance, while the World Bank explores early engagement and the U.S. Export-Import Bank may guarantee financing, Scott Bessent said.
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47 Articles
47 Articles
US may lift more Venezuela sanctions next week, Bessent says
U.S. Treasury Secretary Scott Bessent has told Reuters that additional U.S. sanctions on Venezuela could be lifted as soon as next week to facilitate oil sales, and that he will also meet next week with the heads of the International Monetary Fund and World Bank on their re-engagement with Venezuela.
·United Kingdom
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US may lift some oil sanctions on Venezuela as early as next weekThe Trump administration may ease sanctions on Venezuela to facilitate oil exports. The US plans to attract investment and unlock IMF assets to revive the economy.
·Kyiv, Ukraine
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The US plans to lift sanctions on Venezuela, facilitating oil sales. It is discussed to use $5 billion from the IMF to rebuild its economy and renew energy commitments.
Coverage Details
Total News Sources47
Leaning Left7Leaning Right7Center7Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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