Overview
- OFAC’s License 57, published Tuesday, lets the central bank and three state banks handle defined financial services such as opening accounts, dollar transfers, loans, remittances and currency exchange.
- A companion License 56 permits U.S. companies to negotiate deals with the Venezuelan government, with any final contract execution contingent on additional OFAC approval.
- Treasury officials describe the steps as narrow and reversible under supervision, which means broader U.S. sanctions remain in force and frozen assets are not broadly unlocked.
- The IMF said Thursday it has resumed official relations with the interim government, ending a suspension in place since 2019 and reopening formal engagement that could lead to technical support and potential financing talks.
- The changes reopen formal dollar inflows from oil sales and remittances, which could ease the cash squeeze for businesses and make it simpler for families abroad to send money home through banks.