US-Venezuela Relations

Caracas, March 13, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez welcomed on Wednesday the formal recognition granted by the United States government to her administration as the South American country’s “sole” and legitimate authority.

Rodríguez argued that Washington’s decision goes beyond any individual figure or government. 

“It is not recognition of a person or a government; it is recognition of a country so that it is able to recover its life,” she said during a televised broadcast, referring to the impact of wide-reaching US unilateral coercive measures imposed since 2015.

The Venezuelan leader affirmed that the diplomatic move could help advance “national unity” and contribute to the “normalization” of the country’s political, economic, and social life. “What matters to me is that this can bring a process of reordering and normalization,” she added.

The recognition was communicated by Manhattan US Attorney Jay Clayton in a “statement of interest” addressed to federal Judge Sarah Netburn. Clayton is likewise heading the prosecution in the US Justice Department’s case against Venezuelan President Nicolás Maduro.

Maduro was kidnapped by US special forces alongside First Lady Cilia Flores on January 3 during a military operation. The pair has pleaded not guilty to charges including drug trafficking conspiracy and will face a hearing on March 26. US officials have not provided evidence tying Venezuelan high-ranking officials to narcotics activities, while specialized reports have consistently found Venezuela to play a marginal role in global drug trafficking.

Clayton’s missive referenced a letter from State Department official Michael Kozak which identified Rodríguez as Venezuela’s “sole Head of State.” Kozak’s letter expressed the Trump administration’s argument that the recognition will help advance US interests in the Caribbean nation.

Trump publicly acknowledged Washington’s recognition of the Venezuelan government for the first time during the Shield of the Americas Summit on March 7. The White House argued that its stance would contribute to Venezuelan stability and economic recovery, as well as create the conditions for “a peaceful transition toward a democratically elected government.”

Caracas and Washington reestablished diplomatic ties on March 5 and have taken steps to reopen their respective embassies and consulates. The Maduro government severed ties with the first Trump administration in 2019 when the latter recognized then–National Assembly president Juan Guaidó as Venezuela’s “interim president.”

Kozak reiterated in his letter that since January 23, 2019, the US has not recognized Maduro as Venezuela’s head of state and that this position had not changed. 

“Maduro is an accused narco-terrorist awaiting trial in a US federal court for his crimes,” the document read. The Venezuelan president’s defense team is expected to argue that Maduro should be entitled to immunity from prosecution as a sitting head of state.

Washington’s formal recognition of the acting government in Caracas could also have implications for Venezuelan assets abroad. Since 2019, several bank accounts and US-based Venezuelan refiner CITGO have been frozen or under the control of the US-backed opposition.

The White House’s move will also pave the way for renegotiations surrounding Venezuela’s sizable sovereign debt, with creditors eager for a potential windfall after buying defaulted bonds at very depressed prices.

While Clayton’s address identified Rodríguez as the only person “able to take action on behalf of Venezuela,” US authorities have not clarified whether the Venezuelan government will retake control of its US-based assets.

In addition, the Justice Department attorney declined to take a position regarding “which counsel is authorized to represent certain Venezuelan state-owned entities.” On Thursday, Judge Netburn requested further clarification from the administration regarding the representation of Venezuelan interests before US courts before March 26.

In her Wednesday address, Rodríguez went on to acknowledge “daily exchanges” with US counterparts and expressed “gratefulness” for the reestablishment of trade relations. The acting president stated that Venezuela has imported medical equipment and medicines from US companies in recent weeks.

Since early 2026, the Trump administration taken direct control of revenues generated by Venezuelan oil exports, depositing funds into accounts held by the US Treasury. Around a quarter of an initial US $2 billion crude sale agreement has reportedly been returned to Caracas.

Recently issued US licenses allowing transactions in the Venezuelan oil and mining sectors likewise mandate that proceeds be deposited in Treasury-run accounts.

US officials have claimed that Venezuelan authorities need to submit a “budget request” to access the country’s funds and will only be allowed to import goods and services from US manufacturers.

Edited and with additional reporting by Ricardo Vaz in Caracas.

Caracas, March 10, 2026 (venezuelanalysis.com) – The Venezuelan National Assembly preliminarily approved a new mining law on Monday as part of continued efforts to attract foreign investment to the country.

Venezuelan Acting President Delcy Rodríguez had announced the new legislation last week during a visit from US Interior Secretary Doug Burgum alongside mining executives and urged parliament to act “swiftly.”

“This law will increase all the legal guarantees that can generate confidence and attract national and foreign investment,” said Orlando Camacho, a congressman from the ruling PSUV-led bloc, during the legislative session.

Camacho added that the bill is adapted to the Caribbean nation’s “present needs” and aims to take advantage of the country’s vast mineral riches, mostly located in the country’s Southeast.

Monday’s vote was endorsed by the pro-government legislative majority. Opposition deputies abstained, complaining that they received the draft less than one hour before the parliamentary session. The text will be subject to consultations and proposals before being put to a second and definitive vote in the coming weeks. 

Consisting of 126 articles split into 19 sections, the bill establishes regulations for small, medium, and large-scale mining, as well as the state’s ability to declare certain minerals as strategic and reserve areas for security purposes. It also creates a “social fund” to support mining workers, an oversight superintendency, and a state-run data bank.

Concerning mining activities, the proposed law establishes that joint ventures, private corporations, and small-scale artisanal mining groups are allowed to receive concessions. The new law will replace a 2015 decree that imposed state control over mining exploration, as well as the 1999 Mining Law.

The legislation establishes concessions of up to twenty years that can be renewed for two additional ten-year periods. The issuing of contracts is the responsibility of the Ministry of Ecological Mining Development and will not require National Assembly approval. Corporations are also entitled to several tax breaks, likewise granted at the ministry’s discretion, and can take disputes to international arbitration outside the Venezuelan court system.

The Venezuelan government is also seeking to reorganize the mining sector. A decree published on Friday ordered the Venezuelan General Mining Company (MINERVEN) to be absorbed by the Venezuelan Mining Corporation (CVM).

The mining reform follows a similar pro-business overhaul of Venezuela’s Hydrocarbon Law in January. In an interview, National Assembly President Jorge Rodríguez vowed that parliament would “adapt” laws to attract US investors in the wake of the January 3 US military strikes and kidnapping of President Nicolás Maduro

During his visit last week, Burgum touted Venezuela’s mineral riches and potential opportunities for Western conglomerates. On Friday, the Trump official announced the arrival of US $100 million worth of Venezuelan gold as part of a deal involving Trafigura to export up to 100 tons of gold doré bars worth approximately $165 million.

However, Caracas is not expected to immediately receive the revenue. The US Treasury issued General License 51 (GL51) allowing US entities to purchase, transport and resell Venezuelan-sourced gold but mandating that proceeds be deposited in US government-run accounts before being returned to Venezuela under conditions dictated by the White House.

The sanctions waiver additionally blocks transactions with companies from Cuba, Iran, Russia, and North Korea, and bans involvement in exploration and refining activities.

In tandem, the Trump administration reportedly issued a 30-day license allowing select companies, including Canada’s Gold Reserve, to negotiate mining concessions with the Venezuelan government.

Venezuela possesses vast proven reserves of gold, iron, and bauxite, in addition to lesser quantities of copper and nickel. Analysts have also drawn attention to Venezuela’s significant reserves of coltan, which has important military, aerospace, and electronics applications, as well as unproven deposits of rare earth minerals.

Former President Hugo Chávez sought to end foreign mining concessions in the 2000s, pushing instead for the state to play a leading role and link extraction activities to its basic industries in sectors such as steel and aluminum. 

The Chávez government likewise revoked a number of concessions from Western mining companies. Several of them, including Canada’s Crystallex and Gold Reserve, went on to secure compensation via international arbitration bodies.

Since 2015, the Nicolás Maduro administration looked to mining as a potential revenue source amid escalating US sanctions, particularly in the 112,000 square-kilometer Orinoco Mining Arc. Nevertheless, the sector was likewise hit by unilateral coercive measures, while the proliferation of irregular mining groups has generated environmental concerns.

Edited by Lucas Koerner in Fusagasugá, Colombia.

On our recent delegation to Venezuela, one quote echoed again and again — a warning written nearly two centuries ago by Simón Bolívar in 1829:

“The United States appears destined by Providence to plague America with misery in the name of liberty.”

For many Venezuelans, that line no longer feels like history. It feels like the present.

The January 3 U.S. military operation that seized President Nicolás Maduro and First Lady Cilia Flores marked a dramatic escalation in a conflict that Venezuelans describe not as sudden but as cumulative — the culmination of decades of pressure, sanctions, and attempts at isolation. “We still haven’t totally processed what happened on January 3,” sanctions expert William Castillo told us. “But it was the culmination of over 25 years of aggression and 11 years of resisting devastating sanctions. A 20-year-old today has lived half his life in a blockaded country.”

Carlos Ron, former deputy foreign minister and now with the Tricontinental Institute for Social Research, described the buildup to the invasion as the result of a carefully constructed narrative. “First there was the dangerous rhetoric describing Venezuelans in the United States as criminals,” he said. “Then endless references to the Tren de Aragua gang. Then the boat strikes blowing up alleged smugglers. Then the oil tanker seizures and naval blockade. The pressure wasn’t working, so they escalated to the January 3 invasion and kidnapping of President Maduro and his wife, Cilia Flores, and the deaths of over 100 people.”

While in the United States the events of January 3 have largely been forgotten, replaced by a devastating war with Iran, in Venezuela the reminders are everywhere. Huge banners draped from apartment buildings demand: “Bring them home.” Weekly protests call for their release.

In the Tiuna neighborhood of Caracas, we met Mileidy Chirinos, who lives in an apartment complex overlooking the site where Maduro was captured. From her rooftop, she told us about that dreadful night, when the sky lit up with explosions so loud her building shook and everyone ran outside screaming.

“Have your children ever woken up terrified to the sound of bombs?” she asked.

We shook our heads.

“Ours have,” she said. “And they are U.S. bombs. Now we understand what Palestinians in Gaza feel every day.”

She told us psychologists now visit weekly to help residents cope with the trauma.

Within days of the U.S. invasion, the National Assembly swore in Vice President Delcy Rodríguez as acting president. President Trump publicly praised Rodríguez for “doing a good job,” emphasizing his strong relationship with her. But from the beginning, she has been negotiating with the United States with a gun to her head. She was told that any refusal to compromise would result not in the kidnapping of her and her team, but death and the continued bombing of Venezuela.

The presence of U.S. power looms large. Nuclear submarines still patrol offshore. Thousands of troops remain positioned nearby. Every statement and decision made by the government is scrutinized. And on February 2, despite Trump’s praise for Delcy Rodríguez, he renewed the 2015 executive order declaring Venezuela an “unusual and extraordinary threat” to U.S. national security.

The visits from the heads of the CIA and Southern Command have undoubtedly been difficult for the government to swallow. Delcy’s revolutionary father was tortured to death in 1976 by a Venezuelan government that worked closely with the CIA. The U.S. Southern Command coordinated the January 3 attack.

But the government is not without leverage.

“The United States thought the state was weak, that it didn’t have popular support, that the military was divided,” said Tania Díaz of the ruling PSUV party. “January 3rd could have triggered looting, military defections, or widespread destabilization. None of that happened.”

The United States has overwhelming military dominance, but it was also aware that millions of Venezuelans signed up to be part of the people’s militia. This militia, along with the army that remained loyal to the government, gave Washington pause about launching a prolonged war and attempting to replace Delcy Rodríguez with opposition leader María Corina Machado. 

While Machado enjoys enthusiastic support among Venezuelan exiles in Miami and the Trump administration recognized her movement as the winner of the 2024 election, the picture inside Venezuela is very different.  The opposition remains deeply divided and Trump realized there was no viable faction ready to assume power.

Besides, as William Castillo put it bluntly: “Trump does not care about elections or human rights or political prisoners. He cares about three other things: oil, oil, and oil.” To that, we can add gold, where the U.S. just pushed Venezuela to provide direct access to gold exports and investment opportunities in the country’s gold and mineral sector, 

Certainly, under the circumstances, the Venezuelan leadership has had little choice but to grant the United States significant influence over its oil exports. But while Trump boasts that this is the fruit of his “spectacular assault,” Maduro had long been open to cooperation with U.S. oil companies.

“Maduro was well aware that Venezuela needed investment in its oil facilities,” Castillo told us, “but the lack of investment is because of U.S. sanctions, not because of Maduro. Venezuela never stopped selling to the U.S.; it is the U.S. that stopped buying. And it also stopped selling spare parts needed to repair the infrastructure. So the U.S. started the fire that decimated our oil industry and now acts as if it’s the firefighter coming to the rescue.”

In any case, the easing of oil sanctions — the only sanctions that have been partially lifted — is already bringing an infusion of much-needed dollars, and the government has been able to use these funds to support social programs.

But in Venezuela the conflict is not seen as simply about oil. Blanca Eekhout, head of the Simon Bolivar Institute, says U.S. actions represent a brazen return to the 1823 Monroe Doctrine. The doctrine originally warned European powers not to interfere in the Western Hemisphere, but over time it became a justification for repeated U.S. interventions across the region. 

“We have gone back 200 years,” she said. “All rules of sovereignty have been violated. But while the Trump administration thinks it can control the hemisphere by force, it can’t.”

The historical contradiction is stark. In 1823, the young United States declared Latin America its sphere of influence. A year earlier, Bolívar envisioned a powerful, sovereign Latin America capable of charting its own destiny. That tension still echoes through the present.

Bolívar’s dream is also being battered by the resurgence of the right across the region. The left in Latin America is far weaker than during the days of Hugo Chávez. Bolivia’s Evo Morales and Ecuador’s Rafael Correa have been replaced by conservative leaders. Cuba remains under a suffocating U.S. siege. Progressive regional institutions like CELAC and ALBA have faded, and the vision of Latin American unity that once seemed within reach now feels far more fragile.

In Caracas, the situation is tangled, contradictory, and volatile. But amid the uncertainty, one thing felt clear: the Venezuelan left is not collapsing. It is recalibrating.

As Blanca told us before we left:

“They thought we would fall apart. But we are still here.”

And in the background, Bolívar’s warning continues to drift through the air — like a storm that never quite passes.

The views expressed in this article are the author’s own and do not necessarily reflect those of the Venezuelanalysis editorial staff.

Medea Benjamin is the cofounder of CODEPINK for Peace, and the author of several books, including Inside Iran: The Real History and Politics of the Islamic Republic of Iran. 

Source: Code Pink

Caracas, March 6, 2026 (venezuelanalysis.com) – The Venezuelan and US governments announced the restoration of diplomatic relations after a seven-year hiatus.

Caracas and Washington issued near-simultaneous press releases on Thursday night, though they did not specify a date for the reopening of the respective embassies and consulates.

In its statement, the Venezuelan government headed by Acting President Delcy Rodríguez expressed “trust” that the renewed ties would lead to a “mutually beneficial” relationship.

“The Bolivarian government reaffirms its disposition to advance to a new stage of constructive dialogue, based on mutual respect and cooperation,” the communiqué read.

For its part, the US State Department declared that the diplomatic reengagement would “facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela.”

“Our engagement is focused on helping the Venezuelan people move forward through a phased process that creates the conditions for a peaceful transition to a democratically elected government,” the statement read.

The US and Venezuela engaged in a fast diplomatic rapprochement following the January 3 US military strikes and kidnapping of President Nicolás Maduro and First Lady Cilia Flores. Maduro and Flores have pleaded not guilty to charges including drug trafficking conspiracy, and their next hearing is scheduled for March 26. Despite repeated “narcoterrorism” accusations, US officials have not presented evidence of the involvement of Venezuelan high-ranking officials in narcotics activities, while specialized reports have consistently found the Caribbean nation to play a marginal role in global drug trafficking.

In the past two months, several senior White House officials have been hosted by Acting President Rodríguez, including CIA Director John Ratcliffe, Energy Secretary Chris Wright, and most recently Interior Secretary Doug Burgum. US Southern Command chief Francis Donovan likewise met with Venezuelan leaders, while Chargé d’Affaires Laura Dogu has been in the country since early February. 

Dogu has been slated to take over as ambassador, while Félix Plasencia is set to become Venezuela’s top diplomat in the US.

Despite the January 3 bombings and presidential kidnapping, Rodríguez and other officials have defended the diplomatic engagement with Washington. The rapprochement has also seen Venezuelan authorities vow to “adapt legislation” to attract US corporate investment. 

The National Assembly enacted a pro-business overhaul of the Hydrocarbon Law in late January, with the US Treasury subsequently issuing licenses allowing an expanded presence from Western energy conglomerates while imposing control over export revenues.

The Maduro government severed ties with Washington in 2019 after the first Trump administration recognized the self-proclaimed “interim government” led by Juan Guaidó as the country’s legitimate authority.

The recognition saw Guaidó and other opposition leaders take control of Venezuelan assets abroad, including US-based refiner CITGO, with their management facing accusations of widespread malfeasance and corruption. 

After Guaidó was driven out by other US-backed factions in January 2023, the Biden administration transferred the recognition to the former opposition-majority National Assembly whose term had run out in 2021. Despite being abroad and exercising no activity, the former deputies have continued to collect salaries drawn from frozen Venezuelan state assets.

US authorities have not clarified whether the Venezuelan government will regain access to US-based bank accounts and other assets, since several state entities, including oil company PDVSA and the Central Bank, remain under Treasury sanctions.

The formal recognition of the acting Rodríguez administration is expected to pave the way for debt renegotiation. With sanctions barring the country from maintaining its debt service, liabilities ballooned to an estimated US $170 billion.

Edited by Lucas Koerner in Fusagasugá, Colombia.

Caracas, March 5, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez met Wednesday with US Interior Secretary Doug Burgum at the Miraflores Presidential Palace in Caracas to discuss a bilateral agenda focused on energy and mining.

Senior officials from both countries also attended a closed-door meeting, including US Chargé d’Affaires Laura Dogu and Venezuelan Interior Minister Diosdado Cabello. Rodríguez and Burgum later gave a joint press conference.

“We welcomed Burgum to address important aspects related to metallic, non-metallic, strategic and non-strategic minerals,” the acting president told reporters. “We want the Venezuelan people to see the advantage of having good relations with the world and with the United States.”

Rodríguez said that her economic team will soon present a proposal to the National Assembly to “expand” Venezuela’s Mining Law, urging lawmakers to reform it “swiftly” in order to showcase “investment and development opportunities in the mining sector” to both domestic and international business groups.

Venezuela’s current mining legislation was approved in 1999. Rodríguez noted that the government intends to replicate the “win-win formula” of the recent hydrocarbon reform approved on January 29, which introduced wide-reaching benefits for foreign capital in the oil sector.

Under the overhauled legislation, private operators get expanded control over operations, with limited parliamentary oversight and a reduced tax burden.

Rodríguez also thanked US President Donald Trump for a social media post praising the Venezuelan acting president for “doing a great job.” The Venezuelan leader highlighted the US government’s “kind disposition” to work on a “mutually beneficial” cooperation agenda.

For his part, Burgum said that Venezuela is “an extraordinarily rich nation” in oil, gas, and critical minerals, adding that the opportunities for collaboration between the two countries “have no limits.” He serves as chair of the US National Energy Dominance Council as well.

According to the senior White House official, who holds the natural resources portfolio, the potential cooperation could deliver something “truly remarkable” for both the Venezuelan and American people. Burgum’s delegation included representatives from over 20 US and Canadian mining companies, some of them with a past presence in Venezuela.

“These companies are ready to begin,” he said. “I know that [Acting President] Rodríguez, like President Trump, wants to cut bureaucratic red tape so this capital investment can start flowing.”

Among the companies represented in the visit were US firms Peabody Energy—the world’s largest private coal company—Hartree Partners, Orion CMC, Paulson & Co., and Caterpillar Inc., along with Canada’s Lundin Mining Corp and Singapore-based commodities trader Trafigura.

Canadian miner Gold Reserve also announced plans to return to the Caribbean nation and disclosed a 30-day US Treasury license to negotiate with Caracas.

According to Axios, US officials additionally negotiated a multimillion-dollar agreement with Venezuela’s state mining company Minerven to sell up to one metric ton of gold to the US market, currently valued at roughly $165 million.

The deal would require Minerven to supply between 650 and 1,000 kilograms of doré gold bars—a crude alloy of gold and silver with 50 to 90 percent purity—to Trafigura, which would transport the metal to US refineries. The transaction details were not disclosed, including whether Trafigura will deposit payment in US-run accounts in an arrangement similar to the one the Trump administration has imposed for Venezuelan oil exports.

Burgum is the fourth senior US official to visit Venezuela since the January 3 US military strikes and kidnapping of President Nicolás Maduro and his wife, National Assembly deputy Cilia Flores.

Earlier visits included US Southern Command chief Francis Donovan, CIA Director John Ratcliffe, and US Energy Secretary Chris Wright.

Venezuela possesses vast unexplored and proven mineral reserves, including significant gold, iron, bauxite, diamonds, nickel, and copper deposits. Coltan reserves have likewise been touted in recent years.

According to the International Center for Productive Investment (CIIP)—an agency attached to the Venezuelan vice presidency—the country holds the eighth-largest iron reserves in the world, estimated at 14.7 billion metric tons, as well as more than 321 million tons of bauxite, the raw material used to produce aluminum.

Regarding gold, the CIIP estimates that Venezuela may hold between 2,200 and 8,000 metric tons, which would place the country among the largest gold reserves globally. 

Analysts have also highlighted the possibility of finding rare earth deposits in the South American country. The 17 elements have diverse applications in cutting-edge technology and advanced weapons systems. Washington is currently highly dependent on rare earth imports from China.

Edited by Ricardo Vaz in Caracas.

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.

A couple of weeks ago, US Energy Secretary Chris Wright did not just visit Caracas. He was hosted at the presidential palace with a traditional joropo presentation before being taken on a tour of oilfields like the estate owner who comes to check in on his land and cattle. His statements were clear enough: Washington has sights set on oil, gas, and “critical minerals.”

The spectacle of a Trump administration official getting the red carpet treatment, six weeks after that same administration bombed Caracas and kidnapped the Venezuelan president, was puzzling for many of us, to put it mildly.

We are told that Delcy Rodríguez has a gun to her head, and I totally agree. But she smiles while this gun is cocked and I find it hard to completely ignore what I see and hear.

Days after Wright, it was the Southern Command chief, Francis Donovan, alongside Acting Assistant War Secretary Joseph Humire, to drop in to meet Rodríguez, alongside Interior Minister Diosdado Cabello and Defense Minister Vladimir Padrino. Both US officials were likewise heavily involved in the January 3 attacks that killed over 100 Venezuelans. Donovan promised to return “soon” because he is apparently involved in “stabilizing (Venezuelan) security and transition toward a new era.”

At the time, the Venezuelan government talked about a “cooperation agenda” with the US against drug trafficking and terrorism. Just a few months ago, Venezuelan leaders were denouncing the US as the main source of drug trafficking and terrorism in the hemisphere (and it’s true). Speaking about the meeting days later, the acting president said it wasn’t easy: “I had to sit face to face with those who murdered my father [leftist leader assassinated in 1976 while detained by the Venezuelan state] and with those responsible for killing our January 3 heroes […]. I did it for Venezuela.” 

She did it for Venezuela? Are all these things being done for Venezuela? Many are quick to point out the Venezuelan forces’ underwhelming response against the US attack, though we have to wonder what the cost would have been otherwise, assuming it was actually possible to have done more. Maybe the reaction is due to having spent months listening to one leader after another praise the readiness of the defense forces and vowing that such an event would never happen. The armed forces have given no explanation about the January 3 events.

National Assembly President Jorge Rodríguez gave an interview to NewsMax where he talked about implementing a “free market economy” and “adapting legislation” to attract US investment. At the same time, he ruled out elections in the near term, though he left the door open for far-right candidate María Corina Machado to eventually participate. Meanwhile, Machado has been announcing her return to the country for weeks but has faded from the spotlight. She clearly needs Trump’s approval for whatever she wants to do next.

In contrast, Trump surprised everyone by inviting former electoral rector and presidential candidate Enrique Márquez to his State of the Union address, showcasing him as one of the high-profile people recently released from the Helicoide prison. It’s already fueling speculation that the White House might choose to back a figure much more moderate than Machado as part of its announced “three-phase plan” for Venezuela.

Nevertheless, in the same speech, Trump praised his “new partner and friend, Venezuelan,” bragging about his “close relationship” with the acting president while accusing Maduro of being an “outlaw dictator” and honoring Eric Slover, a pilot who was injured in the January 3 operations against Venezuela. For its part, the government has stood by Maduro and First Lady Cilia Flores, but has framed the US attacks as a “stain” in the two countries’ relationship.

On the domestic front, authorities are releasing hundreds and hundreds of people, from opposition politicians to poor saps, whom we never knew why they were arrested in the first place. Some of the spokespeople who today praise the government’s gesture and commitment to peace with the Amnesty Law are the same ones who months ago would rail against anyone who questioned the detention of campesino or trade union activists, of young idiots who made TikTok videos criticizing Maduro, or pointed out the double standards in letting Guaidó and other confessed criminals walk free.

The cabinet has also seen some major changes, including the appointment of a career opposition politician, Oliver Blanco, as vice minister for Europe and North America. At the same time, Alex Saab’s middle name is now “unknown,” because there has been no official update since the rumors of his arrest. Additionally, some media speculated that former Oil Minister Tareck El Aissami was extradited to the US; others denied it, but we’ve only heard of him once since his arrest in early 2023.

Venezuelan foreign policy has changed dramatically as well. Gone are the references to imperialism, even to the highly touted “multipolar world.” It’s not just the express rapprochement with the US, thanking Trump officials for their “respect and courtesy” while they manage our oil revenues. Days ago, when the US and Israel launched the attack against Iran, the Venezuelan Foreign Ministry published an unbelievable statement that even condemned Iran for retaliating against US bases in the region. In fact, the communiqué was taken down after a barrage of criticism.

Meanwhile, familiar problems persist… People are still waiting for the currency to stabilize and for some increase to their incomes, but that has yet to happen. Direct flights to the US are set to resume, and the deportation of Venezuelans also continues apace.

Nicolás Maduro Guerra, a deputy and the president’s son, has assured everyone that he talks to his father regularly and he “agrees with everything.” I find myself asking: does Maduro also agree with the US Treasury blocking the Venezuelan government from funding his legal defense?

Brazil’s Lula da Silva, trapped between his short memory and his desire to be friends with God and the Devil at the same time, says that Maduro’s arrest is a minor issue and that democracy is the main issue. How can you talk about democracy in a country where the president was just kidnapped and 100 people were killed? Colombia’s Gustavo Petro echoes this line, and we’re inevitably reminded of past Colombian treason against Venezuela.

Social media plays a crucial part in all this, hogging attention on everything from Bad Bunny to the “therian phenomenon” or the adorable monkey Punch in a Japanese zoo. Well… what about Trump’s deadly antics? Or the Epstein files? And Palestine? Venezuela suffered an unusual invasion, and the world is too numb to take note.

These two months have felt like five years. At some point we’ll be able to calmly take stock of how the pieces have fallen and think about the next steps. But first we need a chance to breathe. The struggle continues.

Jessica Dos Santos is a Venezuelan university professor, journalist and writer whose work has appeared in outlets such as RT, Épale CCS magazine and Investig’Action. She is the author of the book “Caracas en Alpargatas” (2018). She’s won the Aníbal Nazoa Journalism Prize in 2014 and received honorable mentions in the Simón Bolívar National Journalism prize in 2016 and 2018.

The views expressed in this article are the author’s own and do not necessarily reflect those of the Venezuelanalysis editorial staff.

Mérida, March 2, 2026 (venezuelanalysis.com) – Venezuelan popular movements condemned the recent US and Israeli attacks against Iran and expressed support and solidarity with the West Asian nation. 

On Saturday, February 28, the International Platform for Solidarity with the Palestinian Cause and the Alexis Vive Patriotic Force were among the organizations issuing statements rejecting Washington and Tel Aviv’s military actions.

The organizations decried the bombings of Iranian territory, including against civilian targets, and described the operations as serious violations of international law. The International Platform for Solidarity with the Palestinian Cause expressed “deep outrage” over the bombing of a girls’ school in Minab that killed over 175 people.

“This infamous act will not crush the heroic resistance of the Iranian people, in their example of dignity in the face of imperialist and zionist aggression,” the platform’s communiqué read.

For its part, the Alexis Vive Patriotic Force emphasized that the latest attacks are not an isolated incident, but rather “another attempt to impose regime change and undermine Iran’s self-determination.” 

“These actions seek to reconfigure the political map of Western Asia in favor of the strategic interests of Washington and Tel Aviv,” the organization, a driving force in El Panal Commune in Caracas, added in its statement.

The Venezuelan chapter of Alba Movimientos, a continental alliance of social movements, likewise issued a statement declaring “unrestricted solidarity” with Iran and calling on multilateral organizations to deter the US and Israel’s “warmongering.”

Venezuelan grassroots organizations scheduled a rally on Tuesday in front of the Iranian embassy in Caracas to reiterate their support and condemnation of the foreign aggression against the country.

West Asia has been thrown into open conflict after the US and Israel launched operations “Epic Fury” and “Lion’s Roar,” respectively, on Saturday, with widespread bombings against Iran and targeted assassinations against the country’s leadership. Ayatollah Ali Khamenei, Iran’s supreme leader, was killed along with several relatives by an Israeli strike. 

Washington and Tel Aviv justified the systematic bombing of Tehran and other cities as a “preemptive strike,” with officials from both countries claiming without evidence that Iran was working toward nuclear weapons.

In response, Iranian forces launched defensive maneuvers and retaliatory attacks against US military assets in the region, striking bases and other targets in countries including Bahrain, the United Arab Emirates, Qatar, Iraq, and Jordan. Iran has also launched multiple waves of missiles against Israel and vowed to implement a strategic blockade in the Strait of Hormuz.

Caracas withdraws statement, expresses solidarity with Qatar

The Venezuelan government issued a statement on Saturday expressing its “condemnation and deep regret” that the “military option was chosen” with attacks against Iran while diplomatic talks were ongoing. However, Caracas did not name the US and Israel as the perpetrators. 

The communiqué went on to condemn Iran’s retaliatory actions as “inappropriate and reprehensible military reprisals against targets in various countries in the region.” The document ended with a call for a return to negotiations between all parties.

The government’s position drew widespread criticism on social media and was removed from the Foreign Ministry’s official accounts, as well as from Foreign Minister Yván Gil’s Telegram and X platforms, on Saturday evening.

Venezuelan leaders, including Acting President Delcy Rodríguez, have offered no explanation for the statement’s publication and deletion. On Monday, Rodríguez reported a phone conversation with Qatari Emir Tamim bin Hamad Al Thani in which she expressed “solidarity” amidst the “violence and instability” in the region.

“I expressed my condolences and deep concern over the loss of civilian lives due to the ongoing conflict, reiterating our call to respect international law and preserve peace,” the acting president wrote.

Caracas’ latest stance contrasts with its previous fierce condemnations of US and Israeli actions in West Asia, including the genocide in Gaza, attacks against Lebanon, and the assassination of Hezbollah leader Hassan Nasrallah.

Venezuela had likewise firmly backed Iran, one of its strongest allies in the past quarter century, against foreign attacks, including during the June 2026 war against Israel.

During Hugo Chávez’s presidency (1999-2013), Caracas and Tehran consolidated a multidimensional strategic alliance based on opposition to US expansion and a commitment to building a multipolar world. During this period, more than 270 bilateral agreements were signed in sectors such as energy, housing, agriculture, and technology.

The close ties, described by both governments as a “revolutionary brotherhood,” also provided key lifelines as both countries faced US-led economic sanctions. Venezuela benefited from Iranian technology transfers in areas such as drone manufacturing, cement, and vehicle assembly.

Iran provided key fuel shipments in 2020, defying US threats, as the Venezuelan economy reeled under US coercive measures.

Edited by Ricardo Vaz in Caracas.

Venezuelanalysis editor Ricardo Vaz joined Ileana Chan on the Global Majority for Peace podcast to take stock of Venezuela’s political reality following the January 3 US attacks and kidnapping of President Nicolás Maduro.

The discussion focuses on the long history of imperialist attacks against the Bolivarian Revolution and the US’ efforts to take control of the Venezuelan oil industry.

Source: Empire Watch

The kidnapping of a sitting head of state marks a grave escalation in US-Venezuela relations. By seizing Venezuela’s constitutional president, Washington signaled both its disregard for international law and its confidence that it would face little immediate consequence.

The response within the US political establishment to the attack on Venezuela has been striking. Without the slightest cognitive dissonance over President Maduro’s violent abduction, Democrats call for “restoring democracy” – but not for returning Venezuela’s lawful president.

So why didn’t the imperialists simply assassinate him? From their perspective, it would have been cleaner and more cost-efficient. It would have been the DOGE thing to do: launch a drone in one of those celebrated “surgical” strikes.

Targeted killings are as much a part of US policy now as there were in the past. From Obama’s drone strikes on US citizens in 2011 to Trump’s killing of Iranian General Qasem Soleimani, lethal force has been used when deemed expedient. And only last June, the second Trump administration and its Zionist partner in crime droned eleven Iranian nuclear scientists.

The US posted a $50-million bounty on Maduro, yet they took him very much alive along with his wife, First Combatant (the Venezuelan equivalent of the First Lady) Cilia Flores.

The reason Maduro’s life was spared tells us volumes about the resilience of the Bolivarian Revolution, the strength of Maduro even in captivity, and the inability of the empire to subjugate Venezuela.

Killing Nicolás Maduro Moros appears to have been a step too far, even for Washington’s hawks. Perhaps he was also seen as more valuable to the empire as a hostage than as a martyr.

But the images of a handcuffed Maduro flashing a victory sign – and declaring in a New York courtroom, “I was captured… I am the president of my country” – were not those of a defeated leader.

Rather than collapsing, the Bolivarian Revolution survived the decapitation. With a seamless continuation of leadership under acting President Delcy Rodríguez, even some figures in the opposition have rallied around the national leadership, heeding the nationalist call of a populace mobilized in the streets in support of their president.

This has pushed the US to negotiate rather than outright conquer, notwithstanding that the playing field remains decisively tilted in Washington’s favor. Regardless, Venezuelan authorities have demanded and received the US’s respect. Indeed, after declaring Venezuela an illegitimate narco-state, Trump has flipped, recognized the Chavista government, and invited its acting executive to Washington.

NBC News gave Delcy Rodríguez a respectful interview. After affirming state ownership of Venezuela’s mineral resources and Maduro as the lawful president, she pointed out that the so-called political prisoners in Venezuelan prisons were there because they had committed acts of criminal violence.

Before a national US television audience she explained that free and fair elections require being “free of sanctions and…not undermined by international bullying and harassment by the international press” (emphasis added).

Notably, the interviewer cited US Energy Secretary Chris Wright’s admission made during his high-level visit to Venezuela. The US official brushed aside demands for short-term elections, instead arguing that they could be held by the end of 2027. In contrast, Rodríguez stressed that Venezuela’s electoral calendar is set by the country’s Constitution.

As for opposition politician María Corina Machado, the darling of the US press corps, Rodríguez told the interviewer that Machado would have to answer for her various treasonous activities if she came back to Venezuela.

Contrary to the corporate press’s media myth, fostered at a reception in Manhattan, that Machado is insanely popular and poised to lead “A Trillion-Dollar Opportunity: The Global Upside of a Democratic Venezuela,” the US government apparently understood the reality on the ground. “She doesn’t have the support within, or the respect within, the country,” was the honest evaluation, not of some Chavista partisan, but of President Trump himself.

Yader Lanuza documents how the US provided millions to manufacture an effective astroturf opposition to the Chavistas. It is far from the first time that Washington has squandered money in this way – we only have to look back at its failed efforts to promote the “presidency” of Juan Guaidó. Its latest efforts have again had no decisive result, leaving Machado in limbo and pragmatic engagement with the Chavista leadership as the only practical option.

Any doubts that there is daylight between captured President Maduro and acting President Rodríguez can be dispelled by listening to the now incarcerated Maduro’s New Year’s Day interview with international leftist intellectual Ignacio Ramonet.

Maduro said it was time to “start talking seriously” with the US – especially regarding oil investment – marking a continuation of his prior conditional openness to diplomatic engagement. He reiterated that Venezuela was ready to discuss agreements on combating drug trafficking and to consider US oil investment, allowing companies like Chevron to operate.

That was just two days before the abduction. Subsequently, Delcy Rodríguez met with the US energy secretary and the head of the Southern Command to discuss oil investments and combating drug trafficking, respectively.

Venezuelan analysts have framed the current moment as one of constrained choice. “What is at stake is the survival of the state and the republic, which if lost, would render the discussion of any other topic banal,” according to Sergio Rodríguez Gelfenstein. The former government official, who was close to Hugo Chávez, supports Delcy Rodríguez’s discussions with Washington – acknowledging that she has “a missile to her head.”

“The search for a negotiation in the case of the January 3 kidnapping is not understood, therefore, as a surrender, but as an act of political maturity in a context of unprecedented blackmail,” according to Italian journalist and former Red Brigades militant Geraldina Colotti.

The Amnesty Law, a longstanding Chavista initiative, is being debated in the National Assembly to maintain social peace, according to the president of the assembly and brother of the acting president, Jorge Rodríguez, in an interview with the US-based NewsMax outlet.

As Jorge Rodríguez commented, foregoing oil revenues by keeping oil in the ground does not benefit the people’s well-being and development. In that context, the Hydrocarbon Law has been reformed to attract vital foreign investment.

The Venezuelan outlet Mision Verdad elaborates: “The 2026 reform ratifies and, in some aspects, deepens essential elements of the previous legislation…[I]t creates the legal basis for a complete strategic adaptation of the Venezuelan hydrocarbon industry, considering elements of the present context.”

As Karl Marx presciently observed about the present context, people “make their own history, but they do not make it as they please; they do not make it under self-selected circumstances.” The present US-Venezuelan détente is making history. So far – in Hugo Chávez’s words, por ahora – it does not resemble the humanitarian catastrophes imposed by the empire on Haiti, Libya, Iraq, Syria, or Afghanistan.

But make no mistake: the ultimate goal of the empire remains regime change. And there is no clearer insight into the empire’s core barbarity than Secretary of State Marco Rubio’s speech at the Munich conference with his praising of the capture of a “narcoterrorist dictator” and his invocation of Columbus as the inspiration “to build a new Western century.”

Washington’s kidnapping of Maduro was intended to demonstrate the empire’s dominance. But it also exposed its limits: the durability of the Bolivarian Revolution and the reality that even great powers must sometimes negotiate with governments they detest. The outcome remains uncertain.

With minor edits by Venezuelanalysis.

The views expressed in this article are the author’s own and do not necessarily reflect those of the Venezuelanalysis editorial staff.

Caracas, February 20, 2026 (venezuelanalysis.com) – The Trump administration is forcing all royalty, tax, and dividend payments from Venezuelan oil production be paid into accounts managed by Washington.

The mandate reinforces the White House’s control over Venezuelan crude export revenues in the wake of the January 3 military strikes and kidnapping of President Nicolás Maduro, as well as a naval blockade imposed in December.

The US Treasury Department updated its FAQ section on February 18 to clarify conditions on recently issued sanctions waivers allowing expanded participation in Venezuela’s oil sector to Western corporations.

Under the licenses, only “routine payments of local taxes, permits, and fees” to Venezuelan authorities are permitted.

“Other payments, including royalties, fixed per-barrel production levies, or federal taxes to blocked persons, such as the Venezuelan government or (state oil company) PDVSA, must be made into the Foreign Government Deposit Fund,” the text read.

The acting Rodríguez administration has yet to comment on the new restrictions. 

Since January, Washington has imposed control over Venezuelan crude exports, with proceeds deposited in a US-administered account in Qatar. US Energy Secretary Chris Wright announced recently that funds will now be deposited directly in a US Treasury account. Senior administration officials have stated that the arrangement gives the White House “leverage” to condition Venezuelan government policies, while Secretary of State Marco Rubio stated that Caracas must submit a “budget request” to access its own oil revenues.

At least US $500 million, out of an initial deal estimated at $2 billion, have been returned to Venezuela and offered by banks in foreign exchange auctions. Venezuelan authorities have also reported the import of medicines and medical equipment from US manufacturers using “unblocked funds.”

On Thursday, the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 50A allowing select firms to conduct transactions and operations related to hydrocarbon projects with PDVSA or any other Venezuelan public entity. The document mirrors General License 50 issued on February 13 but added French firm Maurel & Prom to a list including BP, Chevron, Eni, Repsol, and Shell.

Maurel & Prom’s main project in the Caribbean nation is a minority stake in the Petroregional del Lago joint venture, which currently produces 21,000 barrels per day (bpd). The company’s executives recently held a meeting with Acting President Delcy Rodríguez as part of Caracas’ efforts to secure foreign investment.

In recent weeks, the Trump administration has issued several licenses to boost US and European involvement in the Venezuelan energy sector, with imports of diluents, inputs and technology now allowed. General License 49, issued on February 13, demands that companies apply for a special license before striking production and investment deals with Venezuela.

The US Treasury issued sanctions waivers while maintaining existing coercive measures against the Venezuelan oil industry in place, including financial sanctions against PDVSA. The licenses likewise block any transactions with companies from Cuba, China, Iran, North Korea, and Russia.

The selective flexibilization of sanctions followed the Venezuelan National Assembly’s approval of a pro-business overhaul of the country’s Hydrocarbon Law. The reform grants private corporations expanded control over operations and sales, while opening the possibility for disputes to be taken to external arbitration.

The reformed law also allows the Venezuelan executive to arbitrarily reduce royalties and a new “integrated tax,” capped at 30 and 15 percent, respectively. The executive is likewise entitled to grant reductions to the 50 percent income tax set for the oil industry if deemed necessary for projects to be “internationally competitive.”

According to US-set conditions and the reformed law, minority partners such as Repsol are authorized to sell crude from Venezuelan joint ventures before depositing the owed royalty and tax amounts, as well as dividends belonging to PDVSA, to US Treasury-designated accounts.

The initial crude sales as part of the Trump-imposed arrangement were conducted via commodity traders Vitol and Trafigura, which lifted cargoes at Venezuelan ports before re-selling them to final customers. However, according to Reuters, US-based refiners including Phillips66 and CITGO are looking to secure crude directly from Venezuela to maximize profits.

CITGO, a subsidiary of PDVSA, is close to being taken over by vulture fund Elliott Management following a court-mandated auction to satisfy creditor claims against the South American country. The company has been managed by boards appointed by the US-backed Venezuelan opposition since 2019.

Caracas, February 19, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez met with US Southern Command (SOUTHCOM) chief General Francis Donovan in Miraflores Palace on Wednesday.

According to the presidential press, the previously unannounced high-level talks also included Venezuela’s interior and defense ministers, Diosdado Cabello and Vladimir Padrino López, respectively.

“During the meeting, both countries agreed to work on a bilateral cooperation agenda to fight against drug trafficking in our region, as well as on terrorism and migration,” a statement released on social media read.

The Venezuelan government argued that the meeting showed that “diplomacy” is the mechanism to address “differences and issues of regional interest.”

Donovan is the latest US high-ranking official to visit Caracas and meet with Rodríguez since the January 3 US military attacks that killed over 100 people and saw special operations forces kidnap Venezuelan President Nicolás Maduro and First Lady Cilia Flores.

The acting president held talks with CIA Director John Ratcliffe on January 15 and hosted Energy Secretary Chris Wright last week at the presidential palace. US Chargé d’Affaires Laura Dogu has been in the country since late January, and Rodríguez has recently reported regular “respectful and courteous” communication with Trump and Secretary of State Marco Rubio.

SOUTHCOM confirmed the visit in a press release, disclosing that Donovan was accompanied by Acting Assistant Secretary of War Joseph Humire and stating that the officials expressed the US’ “commitment to a free, safe and prosperous Venezuela.”

The US military command added that discussions focused on “shared security across the Western Hemisphere,” and the Trump administration’s stated “three-phase plan” for the Caribbean nation: “stabilization, economic recovery and reconciliation, and transition.” For her part, Dogu reported Donovan’s visit on social media, calling it a “historic day” to “advance in the objective of having Venezuela aligned with the United States.”

Donovan took over the SOUTHCOM leadership in February after the resignation of Admiral Alvin Holsey over reported disagreements with US Secretary of War Pete Hegseth on the legality of US lethal strikes against boats suspected of carrying drugs.

Since September, through “Operation Southern Spear,” SOUTHCOM has coordinated over 40 bombings of small vessels that have killed more than 130 civilians. The latest strikes, on February 16, targeted two boats in the Eastern Pacific and one in the Caribbean, killing 11 people in total. Neither Donovan nor Rodríguez mentioned the ongoing attacks in their public readouts following the meeting.

SOUTHCOM has also participated in the seizure of oil tankers accused of violating US sanctions by transporting Venezuelan crude. After seizing seven ships in the Caribbean between December and January, US forces have boarded two tankers in the Indian Ocean this month.

In the months leading up to the January 3 operation, Maduro and other Venezuelan officials consistently denounced the US’ military buildup in the Caribbean Sea and the subsequent naval blockade against oil exports.

Venezuelan authorities likewise blasted Washington’s “narcoterrorism” accusations against Caracas, pointing to specialized reports, including from the DEA, that placed Venezuela as a marginal country for global narcotics flows. Venezuelan officials also recalled the history of US agencies’ involvement in drug trafficking.

However, in the weeks after the January 3 strikes, Washington and Caracas have fast-tracked a diplomatic rapprochement with a view toward reopening embassies. President Donald Trump has publicly recognized the acting government but the official change in policy has yet to be confirmed.

The acting Rodríguez administration also prioritized economic reforms to attract foreign investment, including a pro-business overhaul of the country’s Hydrocarbon Law. National Assembly President Jorge Rodríguez said that the government is “adapting” legislation to attract US corporations and aiming for a “free market economy.”

Caracas, February 15, 2026 (venezuelanalysis.com) – US President Donald Trump is considering a visit to Venezuela, though he did not specify when the trip might take place or what agenda it would entail.

“I’m going to make a visit to Venezuela,” Trump told reporters outside the White House on Friday. 

The US President addressed the press ahead of a trip to Fort Bragg, North Carolina, to meet soldiers who participated in the January 3 military attacks against Venezuela and the kidnapping of President Nicolás Maduro and First Lady Cilia Flores.

Questioned by a journalist, Trump stated that Washington recognizes the Venezuelan government led by Acting President Delcy Rodríguez as the country’s legitimate authority.

“We are dealing with them, and they have done a great job,” he stated. The White House refused comment on whether the recognition was the administration’s official stance.

In 2019, the first Trump administration recognized the self-proclaimed “interim government” headed by Juan Guaidó as the country’s legitimate authority, prompting the Maduro government to sever diplomatic ties. The US later transferred its recognition to the defunct opposition-controlled National Assembly whose term expired in January 2021.

Since the January 3 attacks, Caracas and Washington have fast-tracked a diplomatic rapprochement, with US Chargé d’Affaires Laura Dogu arriving in the Caribbean nation in early February. An official recognition of the Rodríguez acting government could pave the way for the restructuring of Venezuela’s sizable foreign debt.

In his Friday press remarks, Trump further described relations with Venezuelan leaders as being “as good as one could hope for,” and added that “the relationship with Venezuela today is a 10.”

Trump additionally highlighted progress in Venezuela’s oil sector.

“Oil is flowing, and other nations are paying a lot of money for it, and we are handling it. We are refining it,” he said. Since January, the White House has imposed control of Venezuelan oil exports, with proceeds deposited in bank accounts in Qatar before being partly rerouted to Caracas under US-set conditions.

Earlier last week, Venezuelan Acting President Delcy Rodríguez emphasized in an NBC interview that Maduro remains the country’s legitimate president. She also disclosed that she has spoken twice with Trump and has had “more frequent” contact with Secretary of State Marco Rubio, and expressed “gratitude” for the “respectful and courteous” nature of the talks.

Venezuela’s acting president went on to announce that she has likewise been invited to visit the US. “We are considering going once we establish cooperation and can move forward with everything,” she said.

The invitation reportedly arose during a recent visit to Caracas by US Energy Secretary Chris Wright, who was hosted by Rodríguez at Miraflores Palace on Wednesday. 

Wright and Rodríguez later toured the Petroindependencia crude upgrader, a mixed venture between Venezuela’s state-owned PDVSA and Chevron, in the Orinoco Oil Belt.

The Trump administration official announced that Chevron would invest US $100 million to modernize operational facilities, with the goal of “doubling [Petroindependencia’s] productive capacity within 12 to 18 months and quintupling it within five years.” Petroindependencia has a current output of 40,000 barrels per day (bpd).

US issues new oil licenses

Following Wright’s Venezuela visit, the US Treasury Department issued two general licenses, 49 and 50, aimed at boosting conditions for Western multinational corporations to operate in Venezuela’s energy sector.

The first license allows for the negotiation and signing of future investment contracts, contingent upon the potential issuance of a specific license. The second waiver authorizes Chevron, BP, Eni, Shell, and Repsol to conduct transactions and operations related to hydrocarbon projects with PDVSA or any other Venezuelan public entity.

Repsol (Spain) and Eni (Italy), like Chevron, participate in oil and gas joint ventures in the South American country, whereas the UK-headquartered Shell and BP are set to lead offshore natural gas projects alongside Trinidad and Tobago’s National Gas Company (NGC) in Venezuelan waters. 

However, GL50 requires that any contracts fall under US jurisdiction and mandates that all payments to “blocked” entities—as sanctions against PDVSA and Venezuela’s banking system remain in place—be made to accounts designated by the US Treasury.

It also explicitly prohibits transactions involving any person or entity linked to Russia, Iran, North Korea, Cuba, or China, as well as vessels sanctioned by Washington.

The Trump administration has loosened restrictions against the Venezuelan energy sector, including allowing the import of US diluents, inputs and technology, following a recent pro-business overhaul of the country’s Hydrocarbon Law. The reform granted expanded benefits for private corporations, including reduced fiscal responsibilities and expanded control over operations and sales.

Upon leaving Caracas, Energy Secretary Wright claimed that “structural reforms” would continue in Venezuela, with changes to “labor laws, the court system and the banking system.”

Edited and with additional reporting by Ricardo Vaz from Caracas.