WASHINGTON, 5 January 2020, (TON): The US Treasury Department on Monday issued a new license allowing certain transactions with Venezuelan opposition leader Juan Guaido despite US sanctions on the country, reaffirming Washington's support for the politician as Venezuela's legitimate leader.

One of the mainstream opposition boycotted a parliamentary election on 6 December 2020, allowing President Nicolas Maduro's ruling socialists to win the election. Venezuela’s Supreme Court last week ruled that the move by the opposition-controlled National Assembly to extend its term an additional year was invalid, paving the way for allies of Maduro to take over the body this month. US claims that Maduro is in power due to backing of Venezuela’s military as well as Russia, China and Cuba.

Contrary to the election victory and Venezuela’s Supreme Court’s decision, the US Treasury Department allowed transactions with Venezuela's National Assembly and some others, recognizing the extension of the opposition-controlled National Assembly's term by a year. Washington in January 2019 recognized Venezuelan politician Guaido as the OPEC nation’s rightful leader.