Bessent meets Venezuelan foreign minister in Washington

Treasury Secretary Scott Bessent met Venezuelan Foreign Minister Oliver Blanco in Washington on Monday and underscored the administration's commitment to Venezuela's economic recovery, including boosting energy production and reconnecting its financial sector.

Why it matters: The readout frames US engagement with Caracas as a three-phase approach of stabilization, recovery and transition, with energy and finance at its centre, though it announces no sanctions change, deal or timeline.

Data as of US Treasury press release sb0674, November 2, 2026, read in full in this run; every statement is the department's own. The readout states no change to sanctions. Developing item.

Treasury Secretary Scott Bessent met Venezuelan Foreign Minister Oliver Blanco in Washington on Monday, congratulating him on his appointment, and the two discussed developments in Venezuela and opportunities to advance the administration’s three-phase approach of stabilization, recovery, and transition, according to the Treasury readout.

Bessent underscored the administration’s commitment to supporting Venezuela’s economic recovery and revitalizing its critical sectors, including boosting energy production and reconnecting the Venezuelan financial sector, with the goals of restoring confidence, attracting investment, and laying the groundwork for a more prosperous Venezuela. The readout announced no sanctions change, agreement, amount or timeline.

Bessent meets Venezuelan foreign minister in Washington

Sources