The Trump administration eased sanctions on Venezuela's state-run financial system Tuesday. The move aims to boost the country's economy amid protests by public workers demanding higher pay. It allows government-run banks to legally use U.S. currency and directly receive oil revenue.
This action follows the U.S. seizure of Venezuela's oil revenue after a military raid captured socialist leader Nicolas Maduro on January 3. Since then, financial sanctions have delayed the disbursement of billions of dollars to the Central Bank of Venezuela. The red tape has also slowed development deals across the country.