US Treasury Expands Venezuela Sanctions Waivers to Stabilize Markets

The United States Department of the Treasury updated three general licenses on March 13, 2026, to expand sanctions waivers for Venezuela's energy and petrochemical sectors. These measures authorize expanded investment and operational activities, including the provision of technology and services for energy exploration and the negotiation of contingent contracts for electricity, gas, and petrochemicals. The updated licenses specifically permit the direct export of fertilizers and precursor chemicals to the United States to support American farmers.

This policy shift follows the capture of Nicolás Maduro in a January 3 military operation and the appointment of Delcy Rodríguez as interim leader. The administration intends to restore Venezuela's economy and stabilize global commodity markets, which experienced surging oil and fertilizer prices following U.S. military strikes on Iran.

The licenses, issued through the Office of Foreign Assets Control, facilitate the lifting, sale, and transportation of Venezuelan oil. However, the U.S. government maintains restrictions on all transactions involving Russia, Iran, North Korea, China, and Cuba.