U.S. eases sanctions on Venezuela central bank

The U.S. Treasury has issued a license authorizing transactions with Venezuela's central bank, marking a significant shift in policy toward the Maduro government. | Contesto: cronaca

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• U.S. eases sanctions on Venezuela central bank

Contesto

The United States Treasury Department has issued a general license authorizing transactions involving the Central Bank of Venezuela (BCV), effectively easing a core component of the crippling financial sanctions regime imposed on the South American nation. The move, confirmed by the Treasury's Office of Foreign Assets Control (OFAC), represents the most substantial relaxation of U.S. economic pressure on Caracas in years and signals a potential recalibration of Washington's strategy toward the government of President Nicolás Maduro. The license, published on the Treasury's website, permits U.S. persons and entities to engage in transactions with the BCV that were previously prohibited under Executive Order 13835. This order, signed in 2018, had effectively cut off the Venezuelan state from the U.S. financial system, targeting its primary mechanism for converting oil revenues into hard currency and conducting international trade. The sanctions were a central pillar of the "maximum pressure" campaign aimed at ousting Maduro, whom the U.S. and dozens of other nations consider illegitimate following the disputed 2018 presidential election. The decision arrives amid a backdrop of protracted political stalemate and profound humanitarian suffering in Venezuela. The country's economy has contracted by more than 75% over the past decade, driven by a combination of failed state policies, plummeting oil production, and the comprehensive U.S. sanctions. The restrictions on the central bank severely hampered the government's ability to import food, medicine, and essential goods, exacerbating a crisis that has pushed millions to emigrate. While U.S. officials have long argued that sanctions target the regime and not the Venezuelan people, humanitarian organizations have repeatedly documented their broad, devastating impact on public health and living standards. Analysts suggest the policy shift is likely a tactical move to encourage the resumption of negotiations between Maduro's government and the opposition Unitary Platform. Previous rounds of dialogue, mediated by Norway, have repeatedly stalled. By providing limited economic relief, Washington may be attempting to create...

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Categoria: cronaca