The fact that financial institutions and other entities all over the world require permission from the US government if they want to conduct business with the Venezuelan central bank indicates that the "sanctions" amount to an economic blockade.
This blockade is enforced by the threat of financial penalties on companies that defy US dictates. In December last year this economic blockade was supplemented by a naval blockade. The US navy seized 9 ships containing oil being exported from Venezuela, and stole the oil. Fred Fuentes has claimed that this naval blockade no longer exists. This is a matter of interpretation. As far as I am aware, no oil tankers containing Venezuelan oil have been seized since early January. Does this mean the naval blockade no longer exists? Or does it indicate that the blockade is so successful that nobody dares to defy it by exporting Venezuelan oil without first asking permission from the US government? If the latter, it indicates that the blockade is still in effect. Of course, the blockade does not prevent exports from Venezuela by US companies such as Chevron. The easing of the financial sanctions against the Venezuelan central bank may be a response to recent changes in Venezuelan oil and mining laws. These changes create more favourable conditions for foreign companies operating in Venezuela. These changes represent a retreat from some of the advances made in previous decades. This retreat is at least partly motivated by some of the consequences of the US sanctions. For example, the state oil company PDVSA finds it difficult to import spare parts for machinery, due to the sanctions. US companies have no such difficulty. Hence if US companies are given a greater role in the oil industry, oil production will presumably increase. This highlights the importance of people in the United States campaigning against the economic sanctions, as well as against the naval blockade. Venezuela's problems can not be solved solely by the people of Venezuela. There needs to be a solidarity movement in the US challenging all forms of imperialist aggression and pressure, including sanctions and naval blockade. Chris Slee ________________________________ From: [email protected] <[email protected]> on behalf of Fred Fuentes via groups.io <[email protected]> Sent: Wednesday, 15 April 2026 8:35 AM To: [email protected] <[email protected]> Subject: [marxmail] US Eases Venezuela Sanctions to Allow Central Bank Transactions Readers can decide if the progressive lifting of sanctions is due to international solidarity and the strength of the Bolivarian revolution or done to facilitate the functioning of the protectorate that the US has installed in Venezuela. US Eases Venezuela Sanctions to Allow Central Bank Transactions By Daniel Flatley April 14, 2026 at 7:37 PM UTC https://www.bloomberg.com/news/articles/2026-04-14/us-eases-venezuela-sanctions-to-allow-central-bank-transactions The US is easing sanctions on Venezuela to allow parties to conduct transactions with the country’s central bank as the Trump administration pushes to revive the nation’s oil sector following the capture of former president Nicolás Maduro. A general license issued by the Treasury Department Tuesday allows financial institutions and other entities to conduct business with the central bank of Venezuela as well as a small number of other institutions in the country. The allowed activity includes US-dollar denominated banking, payment and correspondent account services, according to the license issued by the Treasury’s Office of Foreign Assets Control, which oversees US sanctions. A separate general license also provides for the negotiation of contracts with the government of Venezuela as long as the parties apply for and receive express clearance from OFAC to enter into those contracts. Bloomberg reported last week that the Trump administration was considering lifting sanctions on Venezuela’s central bank. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#41458): https://groups.io/g/marxmail/message/41458 Mute This Topic: https://groups.io/mt/118832153/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
