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14h ago

U.S. Signals Venezuela Sanctions Easing Next Week to Move Oil Sales

Treasury is pairing sanctions relief with IMF and World Bank outreach to tap roughly $5 billion in SDRs for reconstruction.

U.S. Treasury Secretary Scott Bessent speaks during a press conference in Washington, D.C., U.S., December 17, 2025. REUTERS/Aaron Schwartz/File Photo
WASHINGTON, DC - DECEMBER 11: U.S. Secretary of the Treasury Scott Bessent speaks in the Oval Office of the White House where President Donald Trump signed an executive order on December 11, 2025 in Washington, DC. The executive order curbs states' ability to regulate artificial intelligence, something for which the tech industry has been lobbying. (Photo by Alex Wong/Getty Images)
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Overview

  • Treasury Secretary Scott Bessent said sanctions could be lifted as soon as next week and described plans to de‑sanction crude that will be sold.
  • Bessent said the department is studying ways to channel proceeds from oil now parked on storage ships back to Venezuela for government operations and public services.
  • He plans to meet next week with the heads of the IMF and World Bank to discuss re‑engagement after years without formal lending or oversight.
  • President Donald Trump signed an executive order shielding Venezuelan oil revenue held in U.S. accounts from creditor or court seizures.
  • Bessent said nearly $5 billion in Venezuela’s IMF Special Drawing Rights could be converted to dollars, while major oil firms remain cautious as smaller companies and Chevron are expected to move faster, potentially with U.S. Export‑Import Bank support.