US and Venezuela discuss economic recovery and reconnecting the financial sector

The United States and Venezuela discussed efforts to support Venezuela’s economic recovery, including increased energy production and reconnecting its financial sector.

In its “READOUT: Secretary of the Treasury Scott Bessent’s Meeting with Venezuelan Foreign Minister Oliver Blanco” published on 2026-11-02, the US Department of the Treasury said Bessent met with Blanco and congratulated him on his appointment. They discussed developments in Venezuela and ways to advance the Trump Administration’s three-phase approach of stabilization, recovery, and transition.

According to the Treasury, Bessent reaffirmed the administration’s commitment to helping Venezuela rebuild its economy and revive key sectors. Those efforts include expanding energy production and reconnecting the Venezuelan financial sector, with the aims of rebuilding confidence, drawing investment and establishing a foundation for greater prosperity.