The U.S. Department of the Treasury announced a temporary easing of financial controls on Monday, aimed at allowing American banks and institutions to process authorized transactions related to humanitarian aid and reconstruction in Venezuela, which was severely impacted by earthquakes on June 24.
According to the EFE news agency, this measure, issued by the Financial Crimes Enforcement Network (FinCEN), ensures that no regulatory actions will be taken against financial entities providing authorized services in Venezuela between July 27, 2026, and January 29, 2027.
The primary aim is to mitigate the regulatory risk banks face when processing transactions to a sanctioned country, thereby enabling quicker disbursement of funds for humanitarian assistance, housing and infrastructure rebuilding, and broader economic recovery.
FinCEN's official document specifies that the protection does not cover any known, willful, or intentional violations of U.S. financial regulations.
This new policy is supported by two previous general licenses issued by the Office of Foreign Assets Control (OFAC): General License 60, issued on June 25 to authorize relief transactions for the earthquakes—effective until October 23, 2026—and General License 57, issued in April, which permits operations with the Central Bank of Venezuela and three state banks.
Financial institutions taking advantage of this protection must maintain active anti-money laundering compliance programs and adhere to OFAC's existing sanctions.
The urgency of this measure is underscored by the disaster's scale. The twin quakes on June 24, measuring 7.2 and 7.5 in magnitude and occurring just 39 seconds apart, rank among the most destructive in Venezuela's recent history.
A World Bank report released last week estimated direct physical damages at $19.6 billion, with La Guaira and the Capital District being the hardest-hit areas, accounting for nearly half of the total damage.
The organization warned that delays in reconstruction could hinder Venezuela's economic recovery for a decade.
This financial easing aligns with Washington's gradual policy shift since the capture of Nicolás Maduro in January. In March, the U.S. authorized dealings with PDVSA to boost global crude supply, and in April, removed interim president Delcy Rodríguez from OFAC's SDN sanctions list.
Key Questions on U.S. Financial Policy Towards Venezuela
Why did the U.S. ease financial restrictions on Venezuela?
The U.S. eased financial restrictions to facilitate the flow of humanitarian aid and support reconstruction efforts in Venezuela following the devastating earthquakes in June.
What are the key dates for this financial policy?
The policy is effective from July 27, 2026, to January 29, 2027, as stated by FinCEN.
What are the implications for financial institutions?
Financial institutions must maintain compliance with anti-money laundering programs and adhere to existing OFAC sanctions while benefiting from the regulatory protection.