The US removes sanctions on the acting president of Venezuela

(SeaPRwire) –   This development follows a warming of US relations with Caracas, which occurred after the abduction of President Nicolas Maduro and the subsequent pressure on his government to comply.

Sanctions on Venezuela’s interim president, Delcy Rodriguez, have been lifted by the United States, as confirmed by the Treasury Department’s Office of Foreign Assets Control.

The decision, announced on Wednesday, signals a major change in US policy as it forges a closer relationship with Caracas. This shift follows the kidnapping of Venezuelan President Nicolas Maduro by US forces earlier in the year.

Previously, US President Donald Trump had cautioned Rodriguez that failure to meet his administration’s demands could result in consequences more severe than those faced by Maduro. His tone later softened, however, and he described the relationship with her as “very good.” Last month, Trump stated that the US had “formally recognized” the interim government.

Back in March, a Reuters report, citing four sources with knowledge of the situation, indicated that the Trump administration was discreetly constructing a legal case against Rodriguez. It was reported that federal prosecutors had prepared charges for corruption and money laundering, informing the interim president she was under threat of prosecution.

The Treasury initially imposed sanctions on Rodriguez and other Maduro allies in 2018, after Maduro’s re-election, which the US and other nations denounced as fraudulent. Washington alleged at the time that she played a role in helping Maduro cling to power.

These sanctions involved the freezing of her US-based assets, a prohibition on American citizens and firms doing business with her, and a denial of her access to the US financial system. Restrictions were also placed on her international transactions and travel, which served to cut Rodriguez off from global economic and financial networks.

The sanctions have been removed three months after US forces captured and jailed Maduro. The former president is currently confronting charges of narcoterrorism, cocaine trafficking, and firearms offenses, all of which he disputes.

Initially, Rodriguez vowed that no “foreign agent” would take control of Venezuela and called for the release of Maduro and his wife. Since then, however, she has shifted her position to meet the US administration’s requirements, such as allowing American companies into the nation’s oil sector and collaborating on security matters.

Consequently, Washington now exercises control over Venezuelan crude oil exports, with the revenue being placed into restricted accounts managed by the US Treasury instead of being sent directly to the Venezuelan government. Venezuela possesses the largest proven oil reserves globally, accounting for approximately one-fifth of the total.

Last month, Rodriguez consented to a sale of about $100 million in physical gold to the US, with the proceeds again being managed by Washington. In January, she also agreed to release over 400 detainees identified by the US as political prisoners.