United States • • • 🌿 Progressive

Edificios gubernamentales con las banderas de Estados Unidos y Venezuela y una mesa con documentos financieros
Imagen alusiva generada para EPM sobre el acercamiento financiero entre Washington y Caracas · EPM

Bessent and Blanco discuss Venezuela's financial return

Scott Bessent and Oliver Blanco discussed on Monday Venezuela's return to the international financial system, energy reactivation and access to multilateral…

--- The context --- Venezuela is seeking a return to the international financial system after the capture of Nicolás Maduro earlier this year and the resumption of ties with the United States. It forms part of Washington's plan for stabilization, recovery and transition, with two connected fronts at the center: energy and reconnecting Venezuelan finance with international markets. --- The facts --- Treasury Secretary Scott Bessent met on Monday with Venezuela's new foreign minister, Oliver Blanco, to discuss bringing Venezuela back into the international financial system and reactivating strategic sectors, particularly energy. According to the Treasury, Bessent congratulated Blanco and reaffirmed the commitment to Venezuelan economic recovery. Priorities at the meeting included increasing energy production and reconnecting the Venezuelan financial sector with international markets. The Treasury said the goal is to restore confidence, attract investment and lay the foundations for a more prosperous Venezuela. Blanco confirmed the meeting on his X account and said they discussed the conditions for Venezuela to access multilateral financial organizations and opportunities for binational economic cooperation. --- The positions --- Blanco also met on Monday with Secretary of State Marco Rubio, in the first encounter between the two foreign policy chiefs since ties were restored. According to the State Department, they discussed reforms for free, fair and credible elections, and Rubio urged continued release of the political prisoners who still remain in Venezuela. Speaking to a television channel, Blanco described the moment as a stage of shared ground, with shared goals on recovery and political change. --- What remains unknown --- At the State Department, Rubio and Blanco posed beside their countries' flags, without the traditional handshake, with serious expressions and without answering questions or offering joint statements. No concrete conditions, timelines or closed agreements are yet known for access to multilateral organizations or for the financial reconnection. --- Unanswered questions --- What concrete conditions will Venezuela need to meet to access multilateral financial organizations? How soon could its financial sector reconnect with international markets? How will higher energy production translate into visible investment and recovery? What progress will be made on releasing the political prisoners who still remain in the country? --- EPM analysis --- Blanco was appointed by Delcy Rodríguez just four days earlier, replacing Félix Plasencia, and on Friday he met in Caracas with John Barrett, the chargé d'affaires at the United States embassy, reaffirming the willingness to keep channels open. Barrett highlighted joint work to implement the three-stage program promoted by Trump. On taking office, Blanco promised agreements, wider economic opportunities and concrete results through dialogue. 📌 EPM Take: In EPM's view, the Treasury meeting moves the relationship from diplomatic restoration onto economic ground, where real recovery will be decided. Energy production and financial reconnection heading the agenda show a shared bet on restoring confidence and attracting investment. Its reach, however, will depend on institutional reforms, the electoral path and prisoner releases advancing at the same pace as the promises of cooperation, because without those foundations the financial return will remain incomplete and fragile for everyone involved in this process.
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