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Mérida, June 2, 2026 (venezuelanalysis.com) – The Venezuelan government launched the First National Meeting of the 2026 Communal Coffee Plan on Saturday, May 30, as part of efforts to deepen popular control and increase coffee production for export. 

The central event took place in the Ospino municipality of Portuguesa state, where authorities inaugurated the El Cafetal social property company (EPSDC), a coffee-processing plant transferred to collective communal management.

According to officials, the infrastructure will serve nearly 80 coffee-producing communes from the central-western states of Portuguesa, Lara, Yaracuy, and Trujillo. The facility, previously ran by the state-owned Venezuelan Coffee Corporation, was transferred to a network of several communes.

Acting President Delcy Rodríguez opened the event, emphasizing the role of grassroots production in the sector. 

“Coffee is one of the most important items where the communal economy already has the entire production chain organized,” she stated during a tour of the relaunched plant.

Rodríguez hailed output growth to nearly 4 million quintals in the 2025-2026 cycle, with 1.8 million quintals destined for national consumption and 2.1 million for export. According to official figures, production increased by around 25 percent over the past five years.

In her address, Venezuela’s acting president emphasized the importance of increasing exports to international markets while maintaining accessible prices domestically. “This is the path of a country that builds a sovereign future,” Rodríguez concluded.

Communes Minister Ángel Prado, who led an assembly with thousands of coffee producers and communards on Saturday, echoed the target of boosting non-oil exports from communal organizations. “You can count on the communal economy, President,” he said in his speech.

Agriculture Minister Vladimir Padrino López, who previously served as defense minister, also attended the event and called for joint efforts between his ministry and communal structures to support coffee producers. 

“We have to merge, work with a special synergy because in the end, where is the campesino? Where is the coffee grower? He is in a communal circuit, he is in a commune,” Padrino expressed. 

For their part, grassroots producers hailed the transfer of the processing plant as a long-awaited conquest. Yamileth Ortiz, a spokeswoman from El Cafetal Commune in Portuguesa state and a worker at the plant since 2008, emphasized the project’s potential to elevate coffee production in the Caribbean nation.

“There is an expectation to receive crops from at least 10 states and strengthen the national links between coffee-producing communes,” she told reporters.

The Venezuelan government has facilitated fuel supplies, seeds, and technical guidance to support producers taking part in the El Cafetal project. In recent years, Venezuelan coffee growers have highlighted fuel shortages, overpriced inputs, and a lack of access to credit as obstacles to maintaining production levels. Rural organizations have likewise denounced the influence of agribusinesses in establishing crop prices.

Edited by Ricardo Vaz in Caracas.

Caracas, June 1, 2026 (venezuelanalysis.com) – A Venezuelan delegation representing the acting Delcy Rodríguez administration held talks with the International Monetary Fund leadership on Saturday in Washington, DC.

The Venezuelan team was led by Economy Vice President Calixto Ortega alongside Central Bank (BCV) President Luis Pérez and other finance officials. In a statement, Caracas called the meeting “productive,” focused on “technical assistance mechanisms” and the Caribbean nation’s efforts to “recover funds” to boost economic recovery.

“With these kinds of meetings, Venezuela ratifies its disposition for dialogue and international cooperation, with independence and self-determination,” the communiqué read. Venezuelan authorities emphasized the country’s “new stage of stability and growth” alongside a commitment to “reestablish ties with multilateral organizations.”

For her part, IMF Managing Director Kristalina Georgieva also classified the meeting as “productive” and reiterated the US-based institution’s disposition to “support efforts to strengthen macroeconomic stability.”

Venezuela reestablished ties with the IMF and the World Bank in April after a seven-year hiatus. The move followed the Trump administration’s recognition of Rodríguez as the South American country’s “sole leader” as part of a fast-tracked diplomatic rapprochement between Washington and Caracas.

The acting president hosted a World Bank delegation on May 15 and emphasized “technical cooperation” prospects.

Though Venezuela has been a member of the IMF and the World Bank since 1946, former President Hugo Chávez effectively disengaged from both bodies in the 2000s, labeling them “instruments of US imperialism” and seeking to create Global South integration and lending alternatives.

The Rodríguez government’s IMF meeting came amid announced plans to execute a “comprehensive and orderly” restructuring of the country’s foreign debt, estimated to be as high as US $170 billion.

Caracas’ liabilities stem from a combination of defaulted bonds and loans, international arbitration awards, and accrued interest. Venezuela began to default on its debts in 2017 as US sanctions heavily aggravated the Caribbean nation’s economic crisis and blocked payments. The restructuring process may be one of the largest in history, surpassing Russia (1998) and Argentina (2001).

The acting Rodríguez government is scheduled to present its macroeconomic framework and public debt sustainability analysis to the international finance community this month. The Trump administration issued a license allowing Venezuela to contract financial and advisory services, but direct negotiations with creditors remain prohibited.

The Venezuelan executive hired Centerview Partners as financial advisor for the debt restructuring process. According to Reuters, the decision was taken without a thorough selection process and on the recommendation of Mauricio Claver-Carone, a former Trump administration official and close associate of Secretary of State Marco Rubio.

Multiple reports in recent days have documented Claver-Carone’s role as a “gatekeeper” for businesses interested in investing in Venezuela as well as a conduit between Rodríguez and the Trump White House.

Venezuelan bonds have risen significantly in recent months as investors expect a windfall after purchasing the defaulted bonds at highly depreciated levels.

Venezuelan authorities have stated that there are “no plans” to take on IMF loans, instead prioritizing access to around $5 billion in Special Drawing Rights (SDR) to address infrastructure and public services needs. The IMF issued the SDRs to help countries deal with a liquidity crunch during the Covid-19 pandemic, but its non-recognition of the Nicolás Maduro government barred Venezuela from accessing its share.

For her part, Georgieva has previously stated that Venezuela “desperately needs help” and that the fund would support a loan program, but that prior steps, including clarity on macroeconomic data, are necessary.

Since the January 3 US military strikes and kidnapping of President Maduro, the Trump administration has extracted significant concessions from the Venezuelan government, including pro-business oil and mining reforms, lucrative deals for Western corporations, and external auditing of the Central Bank. The White House has also seized control of Venezuela’s oil export revenues.

Acting President Rodríguez has additionally installed a commission to evaluate the “strategic” value of Venezuelan state assets and possible privatizations. Plans to reform the country’s tax, labor, and pension laws are likewise underway.

Edited by Lucas Koerner in Caracas.

India says it will continue engaging with Myanmar after Prime Minister Narendra Modi spoke with Min Aung Hlaing, the leader of the country’s military government, in New Delhi.

Indian Foreign Secretary Vikram Misri told reporters on Monday that India’s policy is “not intended to be a commentary on the internal political arrangements” in Myanmar and that New Delhi believes engagement is the best way forward.

Western nations have sought to isolate Myanmar’s military rulers since they overthrew the elected government of Aung San Suu Kyi in a 2021 coup that triggered a crackdown on opponents and a brutal civil war.

The conflict began when the country’s army leader, Min Aung Hlaing, ousted the government and detained civilian leaders, including Nobel Peace Prize laureate Aung San Suu Kyi.

Some critics and human rights groups have said Min Aung Hlaing’s visit to India risks lending legitimacy to the military-backed government.

“We have always proceeded on the principle that sustained dialogue is what is important,” Misri said, adding that isolating Myanmar would be counterproductive.

“History has shown that disengagement doesn’t give us any results that are better than engagement.”

The visit is Min Aung Hlaing’s first to India since he was sworn in as president in April following an election that critics say was designed to cement his hold on power. His last visit to India was in 2019, when he served as Myanmar’s military chief.

He arrived in India on Saturday, first in the eastern state of Bihar, with a visit to the Buddhist pilgrimage site of Bodh Gaya, where believers say that the Buddha attained enlightenment.

India shares a 1,643-kilometre (1,020-mile) border with Myanmar and a maritime boundary in the Bay of Bengal.

Strategic partnership

Myanmar is also strategically important to India’s security interests. The two countries have cooperated on border security and intelligence sharing to combat armed rebel groups.

Modi and Min Aung Hlaing did not address the media after their meeting, as usually occurs after most bilateral talks involving visiting heads of state or government in New Delhi.

But Misri said the two leaders discussed trade, defence and security cooperation, border management, and regional issues, with talks also focusing on expanding economic and technology ties. He said both sides agreed to deepen collaboration across sectors, including trade, energy and critical minerals, and to accelerate major connectivity projects.

Min Aung Hlaing is expected to hold talks with business representatives during his five-day visit, and will travel to the financial hub, Mumbai.

Bilateral trade was $1.95bn in 2025-2026, according to New Delhi.

The leaders also discussed cooperation against cybercrime and human trafficking, issues that have affected thousands of Indians lured to scam centres in the region.

Misri said India and Myanmar have worked together to rescue more than 2,400 Indian nationals over the past 18 months.

Resistance groups formed after the 2021 coup have captured swaths of Myanmar. Others sought out and fought under the leadership of ethnic armies in exchange for training and weapons with which to fight the military.

These resistance groups, known as the People’s Defence Force (PDF), nominally operate under the leadership of the National Unity Government (NUG), a shadow government formed by Myanmar lawmakers removed by the military coup.

Zin Mar Aung, the foreign minister of the NUG, wrote a letter to Subrahmanyam Jaishankar, the minister of external affairs for India, on May 28, expressing concern about the visit.

“Since the military coup of 2021, which overturned the democratic will of the people, Myanmar has endured prolonged conflict, instability, and immense humanitarian suffering,” she said.

“India has long championed democratic governance, the rule of law, and regional stability. We therefore urge the Government of India to weigh carefully the broader implications of formal engagement that may normalise or legitimise military rule in Myanmar.”

Caracas, May 26, 2026 (venezuelanalysis.com) – Venezuelan Attorney General Larry Devoe announced on Monday a formal investigation into recent unrest at the Barinas Judicial Detention Center (INJUBA). 

The prison began to make headlines last week when inmates seized control of the facility to denounce ill-treatment and physical abuse from authorities. The investigation followed the dismissal of prison director Elvis Macuare Guerrero, who had held the post for less than a week before the revolt.

“The Attorney General’s Office announces the launch of a criminal investigation into the events that took place on May 24, 2026, at INJUBA, where inmates staged a protest,” read the official statement. The investigation will focus on accusations of “cruel, inhuman, or degrading treatment” allegedly carried out by security personnel inside the facility.

The probe followed dramatic scenes in which prisoners climbed onto the roof, burned mattresses, and held up banners demanding an end to what they described as a regime of terror. 

According to testimonies gathered by local journalists on the ground, the inmates accused prison authorities of recurring violence and torture, including systematic beatings and forced “ice-cold baths with electric currents.”

The riot was sparked after guards reportedly confiscated belongings and subjected a group of prisoners to violent searches.

In response to the unrest, authorities transferred over 100 female inmates out of the Barinas facility to reduce tensions. On Tuesday, General Giuseppe Cacioppo, head of the Barinas governorship security office, told press that the situation at INJUBA was calm and under control, with a further 818 male prisoners transferred to other penitentiary centers throughout the country.

Rodríguez raises judicial reform priorities

The Barinas inmate unrest coincided with the Venezuelan government announcing the impending release of hundreds of prisoners. On Friday, Acting President Delcy Rodríguez announced that 500 prisoners would be liberated “in the coming hours.” 

Three officers from the former Metropolitan Police were among those already confirmed free. Héctor Rovaín, Erasmo Bolívar, and Luis Molina were serving 30-year sentences for their involvement in the violence leading up to the brief 2002 coup against then-president Hugo Chávez. They had been arrested in 2003 and convicted in 2009.

According to official figures provided by the presidency, since the February approval of the Amnesty Law, a total of 8,740 people have received amnesty. Of these, 8,426 were still facing trial or under probation-type measures and had their cases dropped.

However, the government announcements have also drawn criticism. The Justicia, Encuentro y Perdón (JEP) NGO cautioned that “this type of public pronouncement [announcing more releases] generates enormous expectations,” warning that any failure to comply would represent a “new and cruel affront to human dignity.”

Rodríguez explained that the latest freed individuals had their cases and sentences reviewed through a “different mechanism,” evaluated via the Commission for Judicial Revolution and the Program for Peace and Democratic Coexistence, as opposed to the Amnesty Law.

During a televised working session on Saturday, the acting president framed the ongoing releases and the investigation into the Barinas prison riot as part of a broader transformation of the penal system. She likewise enacted a reform to the Organic Law of the Supreme Court (TSJ), expanding the number of magistrates from 20 to 32.

Rodríguez acknowledged prison overcrowding as one of the main issues plaguing the Venezuelan penitentiary system. She claimed that, according to official statistics, 68% of the incarcerated population in Venezuela comes from the poorest economic strata and vowed to advance judicial reforms that tackle the “criminalization of poverty.”

The Venezuelan leader went on to announce the beginning of the National Consultation for Penal Justice Reform on June 1. The public consultation aims to address what she identified as the “three great challenges” of the current system: procedural delays, judicial corruption, and the criminalization of poverty.

Rodríguez went on to denounce the “partisan and political” manipulation of the justice system.

The commission tasked with the consultation, headed by Attorney General Devoe, will hold meetings with academics, NGOs, judicial system workers, and other relevant actors.

Venezuela’s justice system came under the spotlight recently with the case of Victor Quero, who had an amnesty request denied despite having died in state custody months earlier. Authorities did not inform his mother, Carmen Navas, who continued to visit the prison in search of information. Navas passed away days after her son’s death was publicly acknowledged. The Attorney General opened an investigation into the case.

In recent years, human rights NGOs and prisoner relatives have denounced systematic due process violations and poor incarceration conditions.

Edited by Ricardo Vaz in Caracas.

Mérida, May 21, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez announced that on 12 July the country will conduct its second popular consultation of the year to fund local projects. 

The Venezuelan leader made the announcement during the inauguration of the “City of Entrepreneurship” at the Giant Cacique Tiuna commune in Caracas on Monday, an event with local small-scale entrepreneurs. The upcoming vote follows the first consultation of 2026, which took place on March 8 in 5,336 communal circuits.

“I am pleased to announce that the second popular consultation will take place on July 12. So, everyone should prepare for this national consultation,” Rodríguez stated. “It will be open to projects in any of the Seven Transformations,” she added, referring to the government’s development plan across different areas.

A significant development for the upcoming vote is the incorporation of new types of organizations into the process. The acting president announced that the consultation will include 120,000 condominium boards and 15,000 neighbor associations, emphasizing the importance of consolidating a “common effort” alongside traditional communal projects. Following the March 8 consultation, Rodríguez pledged to expand the process to traditionally middle-class areas where there is no grassroots organization.

Popular consultations have become the main mechanism of government policy to transfer funds to grassroots organizations. Prior to the vote, communities hold assemblies to identify the local priorities, traditionally focusing on infrastructure, public services, or supplying healthcare facilities.

The most-voted initiative receives the equivalent of US $10,000, with the local organizations charged with executing the projects and rendering accounts. According to official figures, the Venezuelan government supported 33,743 initiatives in 2025. On some occasions, state, regional, and municipal offices have funded the second-place projects in several communes.

The upcoming July vote will be the seventh national consultation since the mechanism was consolidated, following two rounds in 2024 and three in 2025.

Venezuelan authorities have yet to specify whether the condominium boards and neighbor associations will access similar funding and if all will be eligible to participate. Their jurisdiction and ability to access state funds have yet to be defined. The move to expand the consultation to organizations in traditionally middle-class apartment complexes and residential areas bypasses the communal instances envisioned by former President Hugo Chávez as “unit cells” for the construction of socialism.

New Phase of ‘National Pilgrimage’

The announcement of the July consultation coincided with the launch of a second phase of the “Great National Pilgrimage” to defend peace and oppose sanctions. The pilgrimage, a large-scale political mobilization strategy, began the new stage on 19 May with a special emphasis on dialogue with the productive sectors of the economy.

According to Interior Minister Diosdado Cabello, this new phase differs from the first stage, which concluded on April 30, by expanding its reach to non-metropolitan areas and focusing on specific regional economic activities such as fishing, agriculture, and the oil industry.

During a rally in the western state of Zulia on Tuesday, Cabello explained that the objective is to establish direct engagement with the population, independent of political affiliation, and to channel proposals on public services, security, and financing to the Rodríguez administration.

At the same time, the Caribbean nation’s acting president held meetings in Bolívar state with the aluminum conductor company Cabelum. She stated that the pilgrimage aimed to go “to the heart of productive Venezuela” to identify structural obstacles and promote productivity. In recent months, the Venezuelan National Assembly has approved several pro-business reforms with the stated purpose of attracting private sector investment, both national and foreign.

Rodríguez explicitly linked the pilgrimage’s goals to the need for diplomatic dialogue with the Trump administration to request a removal of unilateral coercive measures, which she lamented have imposed a “very high cost” on the Venezuelan population.

The pilgrimage, which also includes mass assemblies and the collection of proposals for public management, is expected to run alongside the preparations for the upcoming July consultation. Venezuelan authorities have defended the initiative as an effort to reach out to other political factions under common national goals.

Edited by Ricardo Vaz in Caracas.

Caracas, May 1, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez announced on Thursday an increase in the so-called “integral minimum income” to the equivalent of US $240 per month for public sector workers.

At a public rally in Caracas, Rodríguez stated that the private sector was also urged to establish employees’ incomes at $240 per month or more. The amounts are set in US dollars but paid in bolívares at the day’s official exchange rate set by the Central Bank.

The latest adjustment involved an increase of the “economic war bonus” from $150 to $200 a month, alongside a $40 monthly food bonus. Venezuela’s monthly minimum wage has remained frozen at 130 bolívares, roughly $0.27 at the present exchange rate, since the last increase in March 2022.

The economic war bonus for pensioners was raised from $58 to $70 a month, and for public sector retirees from $130 to $168. The acting president further introduced a new, one-time “professional and academic recognition” bonus, ranging between $60 and $120, aimed at strategic sectors such as security, education, and healthcare. She also urged labor inspectorates to address workers’ demands regarding employment conditions.

The acting president described the latest income hike as “the most significant increase in recent years,” while acknowledging that it remains insufficient in the face of rising living costs. The announcement also included a commitment to develop a special plan to improve conditions for elders in the medium term.

“When I see workers protesting, I tell them ‘you are right!’” Rodríguez stated. “We want to recover wages, and this is a first step to protect the workers’ purchasing power.” In the lead-up to May 1, the Venezuelan leader had argued that salary adjustments must be “responsible” in order not to trigger inflation.

Rodríguez emphasized that the latest bonus adjustments, while maintaining the minimum wage freeze, were agreed upon in discussions between government representatives, trade unions, and business sector associations.

The tripartite negotiations are also advancing in a proposal to reform Venezuela’s Labor Law. On Thursday night, Labor Minister Carlos Castillo confirmed that a labor reform is being evaluated.

“We are discussing it,” he said in an interview with state broadcaster VTV. “It has to come out of the negotiating table and generate consensus.” 

The labor reform plans, as well as the continued bonus-over-wage policies, have drawn fierce criticism from trade unions. Center-right, right-wing, and left-wing labor organizations staged a number of rallies in multiple states on May 1st.

Organizations such as the Central University of Venezuela Professors Association (APUCV) rejected the bonus increase, arguing that it deepens the “de-waging” of salaries and undermines labor rights.

“Continuing the policy of replacing wages with income is another severe blow against the university. It disregards merit, experience, and hierarchy. It also destroys collective bargaining agreements and the institutions responsible for social security,” the group said in a statement.

In recent months, labor protests have intensified in sectors such as education, healthcare, and public services. Workers have demanded that any wage increase be fully incorporated into base salaries rather than delivered through discretionary bonuses, noting that Venezuela’s Constitution mandates at least one annual adjustment to the legal minimum wage. Unions have likewise demanded the repeal of statutes such as the 2792 Memorandum that suspended several collective bargaining rights.

These sectors have also voiced opposition to business-backed proposals to reform the Organic Labor Law (LOTTT) in ways that could reduce benefits and social security contributions. Fedecámaras and other private sector associations have demanded reforms that cheapen labor costs for employers and increase flexibility for dismissals.

Venezuela’s landmark 2012 Labor Law, one of the last major legislative projects of former President Hugo Chávez, prohibits unjustified dismissal and outsourcing, establishes one of the longest maternity leaves globally, guarantees the right to work for women and people with disabilities, and extends pension rights to all workers, including full-time homemakers and the self-employed.

The latest bonus adjustment was announced during the closing rally of the “Great Pilgrimage for a Free and Peaceful Venezuela,” a series of mobilizations across the country calling for an end to wide-reaching US sanctions imposed on the country.

The measures followed a string of recent oil agreements with transnational corporations and optimistic forecasts regarding the Venezuelan economy. However, since January, the Trump administration has imposed control over the Caribbean nation’s oil export revenues, with the disbursement amounts and timings left at US officials’ discretion.

Edited by Ricardo Vaz in Caracas.

Former enemies in Mali, including an al-Qaeda-linked group, have join forces to target military sites.

The defence minister has been killed.

Russian mercenaries backing the government have come under attack.

What are the implications of this unrest?

Presenter:

Imran Khan

Guests:

Oluwole Ojewale – Regional co-ordinator for West and Central Africa at the Institute for Security Studies

Nicolas Normand – Former French Ambassador to Mali and vice president of the Friends of Mali Association

Ovigwe Eguegu – Policy analyst at Development Reimagined, an independent African think tank, and a specialist in West Africa and Sahel geopolitics

Caracas, April 17, 2026 (venezuelanalysis.com) – Venezuela has reestablished ties with the International Monetary Fund (IMF) after a seven-year hiatus.

Acting President Delcy Rodríguez confirmed the news on Thursday night, calling it a “great achievement of Venezuelan diplomacy” and a “very important step” for the Venezuelan economy.

“This is the result of months-long negotiations that the Venezuelan far-right unsuccessfully tried to sabotage,” she stated in a televised broadcast. “Good has triumphed.”

The IMF announced the “resumption of dealings” with Venezuela in a statement on Thursday, stating that the decision was “guided by the views of IMF members representing a majority of the total voting power.”

Managing Director Kristalina Georgieva stated earlier this week that the IMF had been approached by Venezuelan authorities at a technical level and that the Caribbean nation “desperately needs help.”

The World Bank likewise issued a statement disclosing the resumption of dealings with the acting Rodríguez government. Venezuela’s last loan with the institution concluded in 2005.

Venezuela had its relationship with the IMF suspended in 2019 after the first Trump administration and allies recognized the self-proclaimed “interim government” led by Juan Guaidó as the Caribbean nation’s legitimate authority.

In March, the White House recognized Rodríguez as Venezuela’s “sole leader” and later withdrew sanctions against her, while US officials spoke of efforts to reincorporate Caracas into the IMF fold.

Though relations were officially frozen in 2019, Venezuela had sought to distance itself from the Washington-based institution more than a decade prior. In 2007, former President Hugo Chávez formally withdrew Venezuela from the IMF and the World Bank, calling them “weapons of US imperialism.”

Chávez repeatedly denounced the US-controlled multilateral institutions’ role in promoting debt and underdevelopment in Global South countries and pushed for the creation of lending institutions as part of Latin American integration efforts. Under Chávez’s predecessors, Venezuela implemented draconian IMF-conditioned structural adjustment policies that saw over half of Venezuelans living in poverty by 1998.

Last year, President Nicolás Maduro stated that Venezuela had “broken the shackles” of the World Bank and the IMF and was instead building its own “self-sustainable model and relations with a new world.”

Venezuela’s priority will be accessing US $5.1 billion in Special Drawing Rights (SDR) that it is entitled to as an IMF member. In 2021, the lending institution issued $650 billion amid the Covid-19 pandemic as an effort to help countries boost reserves and address fiscal needs. 

However, Venezuela was blocked from accessing the funds as the IMF refused to rule on the country’s legitimate authorities.

Caracas’ reengagement with the IMF and the World Bank also comes amid growing speculation about the fate of Venezuela’s sizable foreign debt. The Caribbean nation owes as much as $170 billion from a combination of defaulted bonds, unpaid loans, and international arbitration awards that have accrued interest for years as US sanctions battered Venezuela’s economy and cut it off from credit markets.  

Venezuelan bonds have been rallying in recent weeks following Washington’s rapprochement with Caracas as creditors bet on a debt restructuring deal that can bring significant windfalls.

Since the January 3 US military strikes and kidnapping of President Nicolás Maduro, the Rodríguez administration has fast-tracked a number of pro-business reforms, including in the hydrocarbons and mining sectors. Upon enacting the Mining Law on Thursday, the acting president thanked Trump, Rubio, and other administration officials for their “good disposition” in establishing “cooperation.”

Rodríguez recently announced further plans to overhaul the South American country’s labor, pension, and tax legislation, while also identifying state assets that are “not strategic.” The Cisneros Group, one of Venezuela’s largest business conglomerates, recently announced the raising of funds ahead of expectations of a “wave of privatizations.”

Since January, the Trump administration has imposed control over Venezuelan oil revenues, mandating that royalties, taxes, and dividends be deposited in US Treasury accounts. In a congressional hearing on Thursday, Assistant State Secretary Michael Kozak stated that “around $3 billion” have moved through the dedicated accounts. 

He did not specify what portion of the revenues has been returned to Caracas, only that the funds had been used to pay public sector incomes and import oil industry inputs, while blocking any transactions with China, Cuba, and Iran.

Earlier this week, the Treasury’s Office of Foreign Assets Control (OFAC) issued new restricted licenses allowing transactions with the Venezuelan Central Bank and public banks that are expected to facilitate the partial return of seized Venezuelan export revenues.

On Thursday, Venezuelan authorities additionally announced a change in the Central Bank leadership, with Luis Pérez replacing Laura Guerra as president of the institution. Guerra had been appointed to the post in April 2025 by Maduro.

Pérez is an economist who had served on the BCV board of directors since 2018. In his social media profile, he describes himself as a cryptocurrency enthusiast.

Edited by Lucas Koerner in Fusagasugá, Colombia.