United States eases Venezuela sanctions, opening aviation, telecom and investment

The U.S. Treasury on June 18 issued three new general licenses that relax parts of the sanctions regime on Venezuela. License General 59 permits transactions for the state airline Conviasa related to aircraft maintenance, parts and safety services. License General 24A updates the authorization for telecommunications and postal services, allowing limited communications and parcel shipments. License General 5X, effective August 2026, authorizes specific transactions involving the 2020 PDVSA bond, including financing and limited restructuring, without lifting broader financial restrictions.

Following the sanctions relief, a delegation of about 30 Brazilian companies traveled to Caracas to explore business opportunities. Companies such as JBS, Embraer, Toyota, General Motor and others met with Venezuelan Vice President of Economy Calixto Ortega and other officials, seeking to revive trade ties that have been dormant for years. The visit reflects Brazilian President Luiz Inácio Lula’s push to deepen economic relations with Venezuela after years of stagnation.