Overview
- Treasury Secretary Scott Bessent said additional sanctions on Venezuela could be lifted as soon as next week to enable crude sales.
- Bessent said the U.S. is lifting sanctions on oil that is going to be sold and is examining mechanisms to repatriate the proceeds to Venezuela.
- President Donald Trump signed a decree preventing courts or creditors from seizing Venezuelan oil revenues held in U.S. Treasury accounts.
- Bessent plans meetings next week with the IMF and the World Bank to discuss reengagement and potential conversion of roughly $4.9 billion in Venezuela’s frozen SDRs.
- The White House has courted U.S. oil companies to encourage renewed investment, while officials have not specified which sanctions will be removed.