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Trump Administration Lifts Venezuela Bank Sanctions to Lock In US Oil Takeover
The US Treasury Department issued OFAC General License 57 on April 14, lifting seven-year-old sanctions on Venezuela's central bank and three state banks — the most significant financial easing since the US military captured President Nicolás Maduro on January 3, 2026. The move allows Venezuela to receive billions in oil revenue through US-controlled channels, as Chevron expands Orinoco Belt production and the opposition demands elections that the Trump administration shows no urgency to schedule.
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