Venezuela Says the US Sanctions Easing Is Not Enough
Venezuela · SANCTIONS
Key Facts
- —What happened Venezuela’s government says US sanctions easing is not enough and demands full removal.
- —Who said it Hydrocarbons Minister Paula Henao spoke on state TV on 3 September 2026.
- —What Washington did The US amended eight licences on 27 August and added mining licences on 2 September.
- —The catch The US eased rules but did not lift sanctions on Venezuela or PDVSA.
- —What comes next Venezuela says it will keep asking for a complete end to sanctions.
Caracas welcomes the recent US moves but insists they fall short. It wants every sanction lifted, not just eased.
Venezuela says the recent US sanctions easing is not enough and wants all measures lifted completely. The demand comes from top officials in Caracas this week.
Caracas Speaks Out
Venezuela’s Hydrocarbons Minister Paula Henao said on 3 September 2026 that the US sanctions easing is not sufficient. She spoke on state television Venezolana de Televisión (VTV).
Henao said the government will keep asking for the complete end of sanctions. The wire agency EFE reported her comments the same day.
Acting President Joins the Call
Acting President Delcy Rodríguez made a similar point on 2 September 2026. She spoke at a press conference in Caracas with US Energy Secretary Chris Wright.
Rodríguez said Venezuelan authorities are working with the US to completely lift sanctions. RIA Novosti reported her words, relayed by NAMPA.
What Washington Has Done
The US Treasury’s Office of Foreign Assets Control (OFAC) amended eight Venezuela-related general licences on 27 August 2026. These cover oil, gas, petrochemicals, mining, gold, diluents and telecommunications.
OFAC also issued new licences for coal and minerals on 2 September 2026. These allow commercial operations with some state companies, such as Carbones del Zulia.
A Licence Is Not a Lifting
A general licence is a permission to do specific things under sanctions. It does not remove the sanctions themselves.
Global sanctions monitor GlobalSanctions.com said the amendments do not amount to a general lifting of US sanctions on Venezuela. Each licence still defines exactly what is allowed.
The Contract Rule Change
One key change lets contracts with the Venezuelan government be governed by Venezuelan law. Before, they had to follow US law.
OFAC’s new FAQ 1267, effective 27 August 2026, removed that requirement. This makes it easier for companies to sign deals.
Why Venezuela Wants More
Henao said the easing is not enough for Venezuela to thrive. She wants all sanctions gone.
Rodríguez said the oil deal has endless benefits. She said it could bring over US$209 billion in revenue, The Guardian reported on 30 August 2026.
The Oil Deal Context
Bloomberg reported on 1 September 2026 that the US deal involves 17 oil fields in Venezuela. A new venture called Nabep will develop them, backed by the US government.
Reuters said on 2 September 2026 that the US would get a guaranteed 20% share of production at cost. It also gets a right of first refusal on remaining output.
Sanctions Still in Place
US sanctions still block PDVSA, the state oil company, and many other entities. They restrict dollar financing and impose compliance burdens.
The recent changes work through narrow, sectoral licences. They do not repeal the sanctions programme.
Venezuela’s Legislative Support
On 1 September 2026, Venezuela’s National Assembly voted to back the oil deal with the US. Reuters reported this.
The assembly is dominated by the ruling party. Its support shows political backing for the deal.
What the Easing Covers
The amended licences cover oil, gas, petrochemicals, mining and telecommunications. They also allow investment contracts under Venezuelan law.
Venevisión reported that the rules now relax the requirement to buy diluents only from US companies. This opens more options for Venezuela.
The US Objective
Regeneración, a Mexican outlet, said the changes aim to secure access to Venezuelan crude. They also facilitate US company reinvestment.
The easing is designed to flexibilize international economic restrictions. It allows operations in several sectors with local firms.
The Bottom Line
Venezuela sees the easing as a step, not a solution. It wants a complete end to sanctions.
The distinction matters because licences can be changed or revoked. A full lifting would be permanent and broader.
The Role of OFAC
The Office of Foreign Assets Control is the part of the United States Treasury that enforces sanctions.
It issues licences that allow certain business with sanctioned countries.
The recent changes came through general licenses, which are like standing permissions for specific activities. Each license lists what is allowed, who can do it, and under what rules.
What the New Mining Licenses Allow
On September 2, 2026, OFAC issued new licenses for coal and minerals, including gold. These are General Licenses 51D, 54C, and 55A.
They allow buying, selling, transporting, and refining Venezuelan coal and minerals. Payments to state companies must go through special U.S.-controlled funds.
The 17 Oil Fields Deal
Bloomberg reported on September 1, 2026, that the U.S. deal covers 17 oil fields in Venezuela. The fields go to the new Nabep venture, replacing operators tied to Maduro.
Reuters added on September 2 that the U.S. gets a guaranteed 20% share of production at cost. It also gets first refusal on buying the rest.
Venezuela’s Legislative Backing
On 1 September 2026, Venezuela’s National Assembly voted to support the oil deal with Washington.
The assembly is controlled by the ruling party.
Reuters noted that the deal works within the current sanctions system, not by lifting it. Each license still limits what can be done.
The $209 Billion Projection
Acting President Delcy Rodríguez said the oil deal could bring in over $209 billion in revenue. The Guardian reported this on August 30, 2026.
That amount is more than Venezuela’s yearly oil revenue in recent years. Rodríguez called the deal’s benefits “endless.”
How Payments Are Controlled
Under the new licences, payments to blocked Venezuelan state firms go into foreign government deposit funds.
Those accounts are overseen by the United States Treasury.
This keeps money from directly reaching sanctioned leaders. It also lets U.S. companies invest without breaking the law.
Frequently Asked Questions
What did Venezuela say about US sanctions easing?
Venezuela said the easing is not enough and wants all sanctions lifted completely. Hydrocarbons Minister Paula Henao made this statement on 3 September 2026.
What has the US actually eased?
The US amended eight general licences on 27 August 2026 and issued new mining licences on 2 September. These cover oil, gas, mining, gold and telecoms.
Why is a licence different from lifting sanctions?
A licence permits specific activities under sanctions, but the sanctions remain in force. Lifting sanctions would remove the restrictions entirely.
Who is asking for the full end?
Acting President Delcy Rodríguez and Hydrocarbons Minister Paula Henao are leading the demand. They spoke on 2 and 3 September 2026.
Connected Coverage
Sources: EFE; RIA Novosti; NAMPA; GlobalSanctions.com; OFAC; Reuters; Bloomberg; The Guardian; Venevisión; Regeneración.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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