Trump admin to ease some Venezuela sanctions soon, says Bessent days after Maduro's capture: Report

United States could ease further sanctions on Venezuela as soon as next week to help enable oil sales, Treasury Secretary Scott Bessent told Reuters, days after Nicolas Maduro's capture.

“We’re de-sanctioning the oil that’s going to be sold,” Bessent said. The report noted that he did not specify which restrictions might be lifted.

The Trump administration aims to take control of Venezuela’s oil sector after detaining President Nicolás Maduro and bringing him to the US to face criminal charges. Since then, Trump has encouraged companies such as Chevron, Exxon Mobil, and ConocoPhillips to invest a total of $100 billion to restore the country’s oil infrastructure.

Bessent also informed Reuters that approximately $5 billion of Venezuela’s assets at the International Monetary Fund, in the form of special drawing rights, could be used to support the country’s economic recovery. He reportedly stated he plans to meet with the IMF and World Bank heads next week to discuss renewed engagement with Venezuela.

(This is a developing story. More to come)