Venezuela Seeks Removal of US Sanctions for Economic Recovery

Venezuela's interim President Delcy Rodriguez has urged the United States to remove the sanctions that have severely impacted the country's economy. Her comments come after the US Treasury Department announced new licenses allowing transactions with certain Venezuelan banks and individuals.

However, Rodriguez argues that these measures are insufficient to help Venezuela overcome its economic crisis. She believes that a complete removal of sanctions is necessary to provide legal certainty to investors and foster sustained economic growth.

“We reiterate the need to advance towards a Venezuela free of sanctions, as a means of providing institutional legal certainty to investors coming to our country – a setting where they are guaranteed sustained investment over time and a forward-looking perspective,” Rodriguez stated on social media.

The Venezuelan government has been facing protests from workers demanding higher wages and better pensions, amid frustration over the country's sluggish economy. Rodriguez's administration has sought to cooperate with US President Donald Trump's demands, including opening Venezuela to foreign investment and loosening restrictions on oil exploration and mining.

Since Maduro's removal, the US has moved to tighten relations with Venezuela, reopening its embassy in Caracas and gradually easing sanctions on certain sectors, including the oil industry. The US currently approves all Venezuelan oil sales abroad, with the proceeds placed in a US-controlled bank account.

Rodriguez has pledged to address concerns over workers' wages on May 1, a day commonly associated with labor rights. She has also expressed interest in hearing from energy executives about potential projects in Venezuela and changes to regulation.