The U.S. Department of the Treasury announced on Monday a temporary easing of financial controls that will allow U.S. banks and institutions to process authorized transactions related to humanitarian aid and the reconstruction of Venezuela, which was devastated by the earthquakes on June 24.
According to the agency EFE, the measure was issued by the Financial Crimes Enforcement Network (FinCEN) and establishes that this agency will not take regulatory actions against financial entities providing authorized services in Venezuela between July 27, 2026, and January 29, 2027.
The central objective is to reduce the regulatory risk that banks face when processing transactions to a sanctioned country, allowing them to more efficiently channel funds intended for humanitarian assistance, housing and infrastructure reconstruction, and overall economic recovery.
The official FinCEN document specifies that the coverage "will not apply to known, deliberate, or intentional violations" of U.S. financial regulations.
The new policy is based on two general licenses previously issued by the Office of Foreign Assets Control (OFAC): General License 60, issued on June 25 to authorize relief transactions for the earthquakes —valid until October 23, 2026— and the General License 57, issued in April, which authorizes operations with the Central Bank of Venezuela and three state-owned banks.
Financial institutions that seek this protection must keep their anti-money laundering compliance programs active and comply with the current sanctions of the OFAC.
The urgency of the measure is supported by the scale of the disaster. The two earthquakes on June 24, measuring 7.2 and 7.5—occurring just 39 seconds apart—are among the most destructive in the recent history of Venezuela.
A report from the World Bank presented a week ago estimated the direct physical damages at 19.6 billion dollars, with La Guaira and the Capital District being the most affected areas, accounting for nearly half of the total.
The organization warned that the slow pace of reconstruction could hinder the country's economic recovery for a decade.
Financial flexibilization is part of a gradual opening policy that Washington has implemented since Nicolás Maduro's capture in January.
In March, the U.S. authorized business dealings with PDVSA to increase the global crude supply, and in April removed acting president Delcy Rodríguez from the OFAC's SDN sanctions list.
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