pledges

Caracas, March 4, 2026 (venezuelanalysis.com) – Venezuelan state oil company PDVSA emphasized recent agreements to supply crude to the US market and reiterated its commitment to “global energy market stability” amid spiraling volatility caused by the US-Israel war against Iran.

“PDVSA has signed supply contracts with trading companies that deliver oil and derivatives to US markets, thus maintaining a historic trade relationship to guarantee supply,” the company said in a statement on Tuesday.

PDVSA further reaffirmed its stance as a “reliable provider” that will contribute to the “necessary equilibrium” in global energy markets, and called for an end to sanctions against the Venezuelan oil industry.

The communiqué followed a surge in oil prices as a result of the US and Israeli attacks against Iran. On February 28, Washington and Tel Aviv launched a massive bombing campaign against military and civilian targets in the West Asian country. 

Tehran has responded by striking Israel and US bases in the region, including in several oil-producing Gulf states. Iranian forces have likewise shut down the Strait of Hormuz, a critical passageway for oil shipments.

Though Venezuelan popular movements have firmly condemned the US-Israeli aggression and voiced support for Iran, the government headed by Acting President Delcy Rodríguez has yet to take a position. Rodríguez expressed “solidarity” with Qatar following the deletion of a controversial Foreign Ministry statement over the weekend.

Since its January 3 bombing of Venezuela and kidnapping of President Nicolás Maduro, the Trump administration has imposed control over the Venezuelan oil industry. Commodity traders Vitol and Trafigura have been lifting Venezuelan crude before re-selling to final customers, with proceeds deposited in accounts managed by the US Treasury Department.

After an initial arrangement that saw revenues routed through Qatar, US Energy Secretary Chris Wright announced last week that payment for Venezuelan oil is now going directly to US Treasury accounts. Wright visited Venezuela in February. He was hosted by Rodríguez in the presidential palace and toured oil facilities where US energy giant Chevron owns stakes.

Out of an initial deal estimated at around US $2 billion, US authorities confirmed that $500 million have been sent back to Caracas, to be offered by Venezuelan banks to private sector importers in foreign exchange auctions. US officials have also confirmed imports of medical equipment and supplies from US manufacturers. Secretary of State Marco Rubio had vowed that Venezuelan oil revenues would be used for purchases from US companies.

In recent weeks, the Trump administration has issued licenses allowing the export of inputs and software to the Venezuelan oil industry, as well as waivers allowing select corporations to expand crude extraction activities in the South American country.

However, the licenses mandate that all royalty, tax, and dividend payments to the Venezuelan state be deposited in US-managed accounts. Similarly, Washington mandated that contracts be subject to US jurisdiction. Transactions with companies from China, Russia, Iran, Cuba and North Korea remain banned, while PDVSA continues under financial sanctions.

The selective loosening of restrictions followed a pro-business overhaul of Venezuela’s Hydrocarbon Law. The reform, approved in late January, grants private corporations expanded control over operations and sales, a reduced tax burden, and the possibility for disputes to be taken to external arbitration.

Both Venezuelan and US officials, including Trump himself, have urged Western corporations to invest in the Caribbean nation’s energy sector, but executives have expressed reservations given market conditions. ExxonMobil will reportedly send a team to evaluate prospects for a return to Venezuela in the coming weeks. 

The company had its assets nationalized by the Hugo Chávez government in the 2000s after refusing to accept reforms that reinforced Venezuelan state sovereignty over the industry. ExxonMobil pursued international arbitration but ultimately received an award significantly below its compensation demands.

Despite the oil sector opening to US and European interests, Venezuelan crude exports receded in February, according to Reuters, following the wind-down of shipments to China. In 2025, around three-quarters of Venezuelan crude was destined for Chinese refineries. Washington imposed a naval blockade in December and seized several tankers as part of its efforts to exert control over Venezuelan oil exports. Two Chinese-flagged ships turned around while headed to Venezuela in January.

Crude exports are expected to pick up in March, with shipments scheduled for Indian buyers.

Edited by Lucas Koerner in Fusagasugá, Colombia.

Qatar has pledged $1 billion to support the Board of Peace’s mission in Gaza, with Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani backing Donald Trump’s 20-point plan and reaffirming support for Palestinian statehood and Israeli security.

WASHINGTON — President Bush marked Black History Month Saturday with a promise to deliver big funding increases to black colleges “even in a time of recession and war.”

Bush, who won less than 10% of the black vote in the 2000 election but has seen his popularity soar since the Sept. 11 attacks, used his weekly radio address to urge Americans to “reflect on the contributions of African Americans.”

Bush sought to assure black leaders he would not renege on a promise to increase funding for historically black colleges and Latino-serving institutions by 30% by 2005.

He also touted the education reforms enacted last month to help narrow the achievement gap between low-income students and their wealthier counterparts. “We have come far, and we have a way yet to go,” Bush said.

“Today we are fighting for freedom in a new way and on new battlefields. And we continue to press for equal opportunity for every American here at home. We want every American to be educated up to his or her full potential,” Bush said.

According to some polls, Bush’s support from blacks more than doubled after the Sept. 11 attacks. Eager to hold on to these gains, the White House has stepped up its outreach to black leaders.

But Bush has come under fire from Democrats, including prominent black lawmakers, for proposing deep cuts in job training and other domestic programs in his fiscal 2003 budget in order to fund more tax cuts and the biggest military buildup in two decades. The 2003 fiscal year begins Oct. 1.

Senate Budget Committee Chairman Kent Conrad (D-N.D.), in the Democrats’ weekly radio address, said Congress will “stand shoulder to shoulder” with Bush to fight terrorism, but he blasted Bush’s proposed budget for bringing back deficits.

“Part of national security is economic security,” Conrad said. “The problem with the president’s budget is that his plan will return us to deficit spending–not just today, but for years to come.”

Comparing Bush’s budget to collapsed energy giant Enron Corp., Conrad accused Bush of making “the Enron mistake: underestimating our debt and endangering retirement benefits.”

Many Democrats charge that the $1.35-trillion, 10-year tax cut Bush pushed through Congress last year was too costly, imperiling the Social Security retirement program and the Medicare health care program for the elderly as the baby boom generation nears retirement.

The Bush administration defended its proposed cutbacks as part of an effort to shift federal resources away from what the White House deemed wasteful programs.

Hollywood groups say the AI video tool uses the likeness of actors and others without permission.

China’s ByteDance has pledged to address concerns over its new artificial intelligence video generator, after Hollywood groups claimed Seedance 2.0 “blatantly” violates copyright and uses the likenesses of actors and others without permission.

The company, which owns TikTok, told The Associated Press news agency on Sunday that it respects intellectual property rights and pledged action to strengthen safeguards.

The tool, called Seedance 2.0, is available only in China for now and lets users generate high-quality AI videos using simple text prompts.

The Motion Picture Association (MPA) said last week that Seedance 2.0 “has engaged in unauthorized use of US copyrighted works on a massive scale”.

“By launching a service that operates without meaningful safeguards against infringement, ByteDance is disregarding well-established copyright law that protects the rights of creators and underpins millions of American jobs. ByteDance should immediately cease its infringing activity,” Charles Rivkin, chairman and CEO of the MPA, said in a statement on February 10.

Screenwriter Rhett Reese, who wrote the Deadpool movies, said on X last week, “I hate to say it. It’s likely over for us.”

His post was in response to Irish director Ruairi Robinson’s post of a Seedance 2.0 video that went viral and shows AI versions of Tom Cruise and Brad Pitt fighting in a post-apocalyptic wasteland.

Actors union SAG-AFTRA said on Friday it “stands with the studios in condemning the blatant infringement” enabled by Seedance 2.0.

“The infringement includes the unauthorized use of our members’ voices and likenesses. This is unacceptable and undercuts the ability of human talent to earn a livelihood,” SAG-AFTRA said in a statement.

“Seedance 2.0 disregards law, ethics, industry standards and basic principles of consent. Responsible AI development demands responsibility, and that is nonexistent here.”

ByteDance said in response that it has heard the concerns regarding Seedance 2.0.

“We are taking steps to strengthen current safeguards as we work to prevent the unauthorised use of intellectual property and likeness by users,” it told the AP.

Jonathan Handel, an entertainment journalist and lawyer, told Al Jazeera the developments mark “the beginning of a difficult road” for the film industry.

Until courts make a significant ruling, AI-generated videos will have major implications on the film industry,” he said.

“Digital technology moves a lot quicker, and we are going to see in several years full-length movies that are AI-generated,” he said.

These tools are trained primarily on unlicensed data, Handel said, and the output could resemble faces and scenes from famous movies, “and so you’ve got copyrights, trademarks, all of those rights are implicated here”.