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US issues licenses to ease Venezuela telecom sanctions, exclude Chinese firms
The OFAC move includes general licenses covering transactions tied to state-owned CANTV and mobile operator Movilnet as Venezuela expands its 5G networks.
The United States has issued new general licenses easing some sanctions restrictions on Venezuela’s telecommunications sector, while explicitly excluding Chinese companies, a step that could alter a market where Huawei and ZTE have been widely embedded.
According to SCMP Economy, the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced the licenses on Friday, which extend to transactions involving state-owned provider CANTV and mobile operator Movilnet.
The decision also follows a broader pattern of selectively easing Venezuela-related sanctions, the outlet noted, referencing earlier authorization for the country’s oil sector that opened limited transaction pathways while still excluding China-linked entities.