US Eases Bank Sanctions on Venezuela Amid Worker Protests

The Trump administration loosened sanctions on Venezuela's state-run financial system Tuesday, allowing four major banks to resume operations that were restricted since 2017. Bradley T. Smith, director of the Office of Foreign Assets Control, signed two licenses affecting the Central Bank of Venezuela, Banco de Venezuela, Banco Digital de los Trabajadores, and Banco del Tesoro.

The banks can now handle wire transfers, credit and debit card services, and other financial transactions that were previously banned. This marks a partial reversal of sanctions imposed during Venezuela's political and economic crisis.

The move comes as Venezuelan public workers are protesting in the streets, demanding higher wages to cope with the country's severe economic problems. The timing suggests the US is trying to provide some economic relief amid growing social unrest.

This follows earlier sanctions relief measures, with the US having lifted some restrictions just two weeks prior. The sanctions were originally put in place as pressure on Venezuela's government during the country's ongoing political crisis.