The Trump administration on Wednesday lifted sanctions on Venezuela’s interim president, Delcy Rodríguez, removing a key barrier that had prevented Americans from doing business with her and potentially clearing the way for fresh U.S. investment in the country. 

The move by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) takes Rodríguez off the Specially Designated Nationals (SDN) list, ending restrictions that had exposed Americans to civil or criminal penalties for dealing with her. The decision is described by the White House as part of broader efforts by Washington and Caracas to promote stability, support Venezuela’s economic recovery, and advance political reconciliation, The Wall Street Journal said. 

Rodríguez, 56, called the step significant and urged the United States to go further by lifting sanctions on other Venezuelan officials and state entities, according to the Journal. She said broader relief would help unlock economic development, investment, and bilateral cooperation.

The delisting comes as Venezuelan diplomats are in Washington to reopen the country’s embassy, which has been closed since 2019, and to meet with State Department officials, according to the report. It also follows Secretary of State Marco Rubio’s meeting with opposition leader María Corina Machado, who continues to press for elections and has sharply criticized Rodríguez.

U.S. officials have outlined a three-part approach focused first on stabilizing Venezuela’s economy and opening access for American companies to the country’s energy and mineral resources before turning to a democratic transition, the newspaper said. In recent weeks, executives from U.S. energy, mining and asset-management firms have traveled to Caracas to discuss investment opportunities with Rodríguez.

Read more at The Wall Street Journal