Trump administration eases financial sanctions on Venezuela

The US administration has eased financial sanctions on Venezuela.

According to Axios, the new measures allow the country’s state-owned banks to use US dollars, access oil revenues, and gradually reintegrate into the global financial system.

The decision is aimed at stabilising Venezuela’s economy, according to the report.

Venezuela’s state-owned bank and other major financial institutions are now allowed to legally operate in US dollars, directly receive billions in oil revenues, and reconnect with the US-dominated global financial system to support the country’s struggling economy.

By Jeyhun Aghazada