Overview
- OFAC issued a general license Tuesday that lets the central bank plus Banco de Venezuela, Banco Digital de los Trabajadores and Banco del Tesoro use U.S.-dollar banking, payment and correspondent services.
- The authorization opens channels for dollar transfers from oil sales, following January’s U.S. move to control state oil revenue after Nicolás Maduro’s capture.
- The relief remains targeted rather than full removal, with a separate license allowing contract talks with Venezuela’s government only if OFAC grants prior clearance.
- Delcy Rodríguez said the step falls short after recent wage protests in Caracas, and she pledged pay increases starting May 1.
- Chevron’s production deal announced Monday points to renewed investment, and analysts say restoring central bank access could deepen the foreign-exchange market after years of workarounds through banks in Turkey and Russia and cryptocurrency.