Scoop: U.S. eases bank sanctions amid Venezuela's economic woes

The Trump administration eased sanctions on Venezuela's state-run financial system Tuesday to boost the country's economy amid public worker protests. This action by the U.S. Treasury allows Venezuela's government-run bank and other large financial institutions to legally use U.S. currency and directly receive billions of dollars in oil sales. The move is intended to help spur oil-sector development and stabilize the new government of acting president Delcy Rodriguez. The U.S. had taken control of Venezuela's oil revenue after seizing socialist strongman Nicolas Maduro on January 3, but U.S. financial sanctions had delayed the disbursement of billions of dollars to Banco Central de Venezuela. Last month, public workers in Caracas began protesting their wages, which are about $160 per month, well below the average private-sector wage of $237.