ADVERTISEMENT"We're de-sanctioning the oil that's going to be sold," Bessent said during a visit to a Winnebago Industries engineering facility. The Treasury was examining changes that would facilitate the repatriation of sale proceeds of the oil stored largely on ships back to Venezuela. Asked when more sanctions could be removed from Venezuela, Bessent said, "It could be as soon as next week," but did not identify which ones. IMF, WORLD BANK RE-ENGAGEMENTBessent, who controls the dominant US shareholding in the IMF and World Bank, said that the two institutions had already reached out to him about Venezuela. Bessent added that he believed there was a role for the US Export-Import Bank in guaranteeing financing for Venezuela's oil sector, echoing previous comments from US Energy Secretary Chris Wright.

Source: The Telegraph January 11, 2026 06:53 UTC