U.S. may lift more Venezuela sanctions next week, Bessent says

Treasury Secretary Scott Bessent told Reuters that additional U.S. sanctions on Venezuela could be lifted as soon as next week to facilitate oil sales, and that about $5 billion in frozen IMF Special Drawing Rights could be deployed; he also plans meetings with IMF and World Bank leaders next week.

U.S. Treasury Secretary Scott Bessent told Reuters that additional U.S. sanctions on Venezuela could be lifted as soon as next week to facilitate oil sales. He said nearly $5 billion in frozen IMF Special Drawing Rights could be deployed to help rebuild Venezuela's economy. Bessent said he will meet next week with the heads of the International Monetary Fund and the World Bank to discuss re-engagement. The White House also issued an executive order blocking courts or creditors from impounding Venezuelan oil revenue held in U.S. Treasury accounts. Key points: - Bessent said additional U.S. sanctions on Venezuela could be lifted as soon as next week to facilitate oil sales. - He said about $5 billion in frozen IMF Special Drawing Rights could be made available to aid Venezuela's economy. - Bessent plans to meet next week with leaders of the IMF and World Bank on re-engagement with Venezuela. - President Donald Trump signed an executive order protecting Venezuelan oil revenue held in U.S. Treasury accounts from being impounded by courts or creditors. Summary: The reported steps are presented as measures to ease the return of oil sale proceeds to Venezuela and to support economic stabilization. The next public actions cited are Bessent's meetings with IMF and World Bank officials and the possible lifting of additional sanctions as soon as next week. Details on which specific sanctions might be removed were not identified in the interview.