Venezuela’s frozen funds to be gradually released for humanitarian aid

Venezuela’s government and opposition have asked the United Nations to manage billions of dollars held in foreign banks, which will be gradually unfrozen to combat a humanitarian crisis in the oil-rich nation, delegates announced in Mexico City on Saturday.
Sources told Reuters last month the frozen funds amount to more than $3 billion.
Following the announcement, the U.S. Treasury Department granted a license for oil firm Chevron to expand its operations in Venezuela, allowing it to import Venezuelan crude into the United States.
Norwegian mediator Dag Nylander hailed the agreement as a “historic milestone” though the country’s crisis could only be solved by Venezuelans themselves.
Venezuelan government representatives had arrived in Mexico City on Friday to sign an agreement with their political opponents, after talks between the two sides have been on ice for more than a year.