Treasury Secretary Scott Bessent on Monday met with Venezuelan Foreign Minister Oliver Blanco to discuss developments in Venezuela and the Trump administration’s approach to the country, according to a Treasury Department readout.
The readout says Bessent congratulated Blanco on his appointment. They also discussed opportunities to advance what the department called a three-phase approach of stabilization, recovery and transition.
Bessent said the administration is committed to supporting Venezuela’s economic recovery and to revitalizing what the readout calls its critical sectors. Those include boosting energy production and reconnecting the Venezuelan financial sector, the readout says.
The stated goals are restoring confidence, attracting investment and laying the groundwork for what the department described as a more prosperous Venezuela.
The readout is brief. It does not say where the meeting took place or how long it lasted. It does not describe what Blanco said, and it does not name any specific actions, agreements or deadlines. It also does not explain what each of the three phases involves or which phase Venezuela is in.