US-Venezuela Tensions

Venezuela opposition politician Juan Pablo Guanipa released | US-Venezuela Tensions News

Machado ally says ‘there’s a lot to talk about regarding the present and future of Venezuela’ after release.

Venezuelan opposition politician Juan Pablo Guanipa has been freed from jail, his family said in a statement.

Guanipa’s release on Sunday is the latest high-profile liberation by the government in Caracas, which is under pressure from the United States to free political prisoners.

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Rights group Foro Penal says it has verified 383 liberations of political prisoners since the government announced a new series of releases on January 8.

“Ten months in hiding and almost nine months detained here,” Guanipa said after being released.

“There’s a lot to talk about regarding the present and future of Venezuela, always with the truth front and centre.”

Guanipa, a well-known politician in Venezuela and a close ally of Nobel Peace Prize winner and opposition leader Maria Corina Machado, was arrested in May 2025 after months in hiding for allegedly leading a “terrorist” plot. His family and political movement have strenuously denied the allegations.

Earlier this month, Guanipa’s family said they had also been able to see him in person for the first time in months, and that he was in good physical health.

Machado celebrated Guanipa’s release in a statement on X, calling for all political prisoners to be released.

Exiled Venezuelan opposition figurehead Edmundo Gonzalez Urrutia also demanded “the immediate release” of all political prisoners.

“These releases are not synonymous with full and complete freedom,” he posted on X.

“As long as legal proceedings remain open and restrictive measures, threats or surveillance remain, the persecution continues,” he added.

Venezuela’s opposition and human rights groups have said for years that the country’s government uses detentions to stamp out dissent.

The government has, however, denied holding political prisoners and says those jailed have committed crimes.

The country’s interim President Delcy Rodriguez has also announced a proposed “amnesty law” for hundreds of prisoners in the country, and said the infamous Helicoide detention centre in Caracas, which rights groups have long denounced as the site of prisoner abuse, will be converted into a centre for sport and social services in the capital.

The legislation, which would grant immediate clemency to people jailed for participating in political protests or critiquing public figures, return assets of those detained and cancel Interpol and other international measures previously issued by the government – passed in an initial vote at the National Assembly this week. It will, however, need to be approved a second time to become law.

Rodriguez, who took office after the US abducted and deposed Venezuelan leader Nicolas Maduro last month, has been releasing the political prisoners and complying with US demands on oil deals.

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Venezuela’s National Assembly approves amnesty bill in first of two votes | Human Rights News

An amnesty law that would provide clemency to political prisoners in Venezuela has passed an initial vote unanimously in the National Assembly, stirring hopes among the country’s opposition.

On Thursday, members of both the governing socialist party and the opposition delivered speeches in favour of the new legislation, known as the Amnesty Law for Democratic Coexistence.

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“The path of this law is going to be full of obstacles, full of bitter moments,” said Jorge Rodriguez, the head of the National Assembly.

But he added that it would be necessary to “swallow hard” in order to help the country move forward.

“We ask for forgiveness, and we also have to forgive,” Rodriguez said.

But critics nevertheless pointed out that the text of the bill has yet to be made public, and it offers no clemency for individuals accused of serious crimes, including drug trafficking, murder, corruption or human rights violations.

Instead, media reports about the legislation indicate that it focuses on charges often levelled against protesters and opposition leaders.

Jorge Rodriguez speaks into a microphone and holds up a picture of Nicolas Maduro
Venezuela’s National Assembly President Jorge Rodriguez holds a picture of late Venezuelan President Hugo Chavez as he speaks on February 5 [Leonardo Fernandez Viloria/Reuters]

What does the bill say?

The bill would grant amnesty to individuals accused of crimes like treason, terrorism, rebellion, resisting authorities, instigation of illegal activities, and spreading hate, if those crimes were committed in the context of political activism or protest.

Opposition leaders like Maria Corina Machado would also see bans on their candidacy for public office lifted.

In addition, the legislation specifies certain events that would qualify for amnesty, including the demonstrations that unfolded in 2007, 2014, 2017, 2019 and 2024.

That period stretches from the presidency of the late President Hugo Chavez, founder of the “chavismo” movement, through the presidency of his handpicked successor, Nicolas Maduro.

Both Chavez and Maduro were accused of the violent suppression of dissent, through arbitrary arrest, torture and extrajudicial killings.

But on January 3, the administration of United States President Donald Trump launched a military operation in Venezuela to abduct Maduro and his wife, Cilia Flores. They have since been transported to New York City, where they await trial on charges related to drug trafficking.

While members of Venezuela’s opposition have cheered the military operation as a long overdue move, experts have argued that the US likely violated international law as well as Venezuela’s sovereignty in removing Maduro from power.

Nicolas Maduro Guerra walks past a portrait of his father
Nicolas Maduro Guerra, son of ousted president Nicolas Maduro, walks by portraits depicting late Venezuelan President Hugo Chavez and independence hero Simon Bolivar on February 5 [Leonardo Fernandez Viloria/Reuters]

Weighing Maduro’s legacy

Images of Chavez were a common sight during Thursday’s debate at the National Assembly, which has been dominated since 2017 by members of the chavismo movement.

That year, Venezuela’s top court dissolved the opposition-led National Assembly and briefly absorbed its powers, before re-establishing a legislature stacked with Maduro supporters.

In 2018 and again in 2024, Maduro claimed victory in contested elections that critics say were marred by fraud.

In the July 2024 vote, for instance, the government refused to release voter tallies, as was previously standard practice. The opposition, however, obtained copies of nearly 80 percent of the tallies, which contradicted the government’s claims that Maduro had won a third six-year term.

After Maduro’s abduction last month, the remnants of his government remained in power.

Within days, his vice president — Delcy Rodriguez, the sister of the National Assembly leader — was sworn in as interim president.

She used her inaugural speech to denounce the “kidnapping of two heroes who are being held hostage: President Nicolás Maduro and First Lady Cilia Flores”.

Rodriguez has nevertheless cooperated with US demands, including by supporting a bill to open Venezuela’s nationalised oil industry to foreign investment.

On the floor of the National Assembly on Thursday, her brother Jorge raised a photo of Chavez holding a crucifix while he spoke. Maduro’s son, National Assembly member Nicolas Maduro Guerra, also presented remarks.

“Venezuela cannot endure any more acts of revenge,” Maduro Guerra said as he appealed for “reconciliation”.

Venezuela’s opposition reacts

Still, opposition members in the National Assembly expressed optimism about the bill.

National Assembly representative Tomas Guanipa, for instance, called it the start of a “new, historic chapter” in Venezuelan history, one where political dissidents would no longer be “afraid to speak their minds for fear of being imprisoned”.

Nearly 7.9 million Venezuelans have left the country in recent decades, fleeing political persecution and economic instability.

But there have been lingering concerns about the human rights situation in Venezuela in the weeks following Maduro’s abduction — and whether it is safe to return home.

President Rodriguez has pledged to release political detainees and close the infamous prison El Helicoide, where reports of torture have emerged. But some experts say the number of people released does not match the number the government has reported.

The human rights group Foro Penal, for instance, has documented 383 releases since January 8.

That figure, however, is lower than the 900 political prisoners the government has claimed to have released. Foro Penal estimates 680 political prisoners remain in detention.

Opposition figures also allege that the government continues to intimidate and harass those who voice sympathy for Maduro’s removal and other opinions that run contrary to the chavismo movement.

Still, the head of Foro Penal, Alfredo Romero, applauded the initial passage of the amnesty law as a step forward.

“Amnesty is the framework that will ensure… that the past does not serve to halt or derail transition processes,” Romero told the news agency AFP.

A second vote is expected to be held on Tuesday next week.

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Can India switch from Russian to Venezuelan oil, as Trump wants? | Energy News

New Delhi, India – When US President Donald Trump announced a trade deal with India on Monday this week, he declared that New Delhi would pivot away from Russian energy as part of the agreement.

Indian Prime Minister Narendra Modi, Trump said, had promised to stop buying Russian oil, and instead buy crude from the United States and from Venezuela, whose president, Nicolas Maduro, was abducted by US special forces in early January. Since then, the US has effectively taken control of Venezuela’s mammoth oil industry.

In return, Trump dialled down trade tariffs on Indian goods from an overall 50 percent to just 18 percent. Half of that 50 percent tariff was levied last year as punishment for India buying Russian oil, which the White House maintains is financing Russian President Vladimir Putin’s war in Ukraine.

But since Monday, India has not publicly confirmed that it has committed to either ceasing its purchase of Russian oil or embracing Venezuelan crude, analysts note. Dmitry Peskov, a Kremlin spokesperson, told reporters on Tuesday that Russia had received no indication of this from India, either.

And switching from Russian to Venezuelan oil will be far from straightforward. A cocktail of other factors – shocks to the energy market, costs, geography, and the characteristics of different kinds of oil – will complicate New Delhi’s decisions about its sourcing of oil, they say.

So, can India really dump Russian oil? And can Venezuelan crude replace it?

Donald Trump and his advisors announce an attack on Venezuela
US President Donald Trump speaks during a news conference on Saturday, January 3, 2026 at his Mar-a-Lago estate in Palm Beach, Florida, the US as Secretary of State Marco Rubio listens [Alex Brandon/AP]

What is Trump’s plan?

Trump has been pressuring India to stop buying Russian oil for months. After Russia invaded Ukraine in 2022, the US and European Union placed an oil price cap on Russian crude in a bid to limit Russia’s ability to finance the war.

As a result, other countries including India began buying large quantities of cheap Russian oil. India, which before the war sourced only 2.5 percent of its oil from Russia, became the second-largest consumer of Russian oil after China. It currently sources around 30 percent of its oil from Russia.

Last year, Trump doubled trade tariffs on Indian goods from 25 percent to 50 percent as punishment for this. Later in the year, Trump also imposed sanctions on Russia’s two biggest oil companies – and threatened secondary sanctions against countries and entities that trade with these firms.

Since the abduction of Maduro by US forces in early January, Trump has effectively taken over the Venezuelan oil sector, controlling sales cash flows.

Venezuela also has the largest proven oil reserves in the world, estimated at 303 billion barrels, more than five times larger than those of the US, the world’s largest oil producer.

But while getting India to buy Venezuelan oil makes sense from the US’s perspective, analysts say this could be operationally messy.

india
A man sits by railway tracks as a freight train transports petrol wagons in Ajmer, India, on August 27, 2025. US tariffs of 50 percent took effect on August 27 on many Indian products, doubling an existing duty as US President Donald Trump sought to punish New Delhi for buying Russian oil [File: Himanshu Sharma/AFP]

How much oil does India import from Russia?

India currently imports nearly 1.1 million barrels per day (bpd) of Russian crude, according to analytics company Kpler. Under Trump’s mounting pressure, that is lower than the average 1.21 million bpd in December 2025 and more than 2 million bpd in mid-2025.

One barrel is equivalent to 159 litres (42 gallons) of crude oil. Once refined, a barrel typically produces about 73 litres (19 gallons) of petrol for a car. Oil is also refined to produce a wide variety of products, from jet fuel to household items including plastics and even lotions.

FILE - Russian President Vladimir Putin, left, and Indian Prime Minister Narendra Modi greet each other before their meeting in New Delhi, India, on Dec. 6, 2021. (AP Photo/Manish Swarup, File)
Russian President Vladimir Putin, left, and Indian Prime Minister Narendra Modi greet each other before a meeting in New Delhi, India, on December 6, 2021 [File: Manish Swarup/AP]

Has India stopped Russian oil purchases?

India has reduced the amount of oil it buys from Russia over the past year, but it has not stopped buying it altogether.

Under increasing pressure from Trump, last August, Indian officials called out the “hypocrisy” of the US and EU pressuring New Delhi to back off from Russian crude.

“In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict,” Randhir Jaiswal, India’s Foreign Ministry spokesperson, said then. He added that India’s decision to import Russian oil was “meant to ensure predictable and affordable energy costs to the Indian consumer”.

Despite this, Indian refiners, currently the second-largest group of buyers of Russian oil after China, are reportedly winding up their purchases after clearing current scheduled orders.

Major refiners like Hindustan Petroleum Corporation Ltd (HPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), and HPCL-Mittal Energy Ltd (HMEL) halted purchasing from Russia following the US sanctions against Russian oil producers last year.

Other players like Indian Oil Corporation (IOC), Bharat Petroleum Corporation, and Reliance Industries will soon stop their purchases.

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A man pushes his cart as he walks past Bharat Petroleum’s storage tankers in Mumbai, India, December 8, 2022 [File: Punit Paranjpe/AFP]

What happens if India suddenly stops buying Russian oil?

Even if India wanted to stop importing Russian oil altogether, analysts argue it would be extremely costly to do so.

In September last year, India’s oil and petroleum minister, Hardeep Singh Puri, told reporters that it would also sharply push up energy prices and fuel inflation. “The world will face serious consequences if the supplies are disrupted. The world can’t afford to keep Russia off the oil market,” Puri said.

Analysts tend to agree. “A complete cessation of Indian purchases of Russian oil would be a major disruption. An immediate halt would spike global prices and threaten India’s economic growth,” said George Voloshin, an independent energy analyst based in Paris.

Russian oil would likely be diverted more heavily towards China and into “shadow” fleets of tankers that deliver sanctioned oil secretly by flying false flags and switching off location equipment, Voloshin told Al Jazeera. “Mainstream tanker demand would shift toward the Atlantic Basin, most likely increasing global freight rates as a result,” he noted.

Sumit Pokharna, vice president at Kotak Securities, noted that Indian refineries have reported robust margins in the last two years, majorly benefitting from the discounted Russian crude.

“If they move to higher-costing, like the US or Venezuela, then raw material cost would increase, and that would squeeze their margins,” he told Al Jazeera. “If it goes beyond control, they may have to pass the excess onto consumers.”

venezuela
A pumpjack for oil is pictured at the Campo Elias neighbourhood in Cabimas, south of Lake Maracaibo, Zulia state, Venezuela, on January 31, 2026 [File: Maryorin Mendez/AFP]

Can India stop buying Russian oil altogether?

It may not be able to. One of India’s two private refiners, Nayara Energy, is majority-Russian-owned and under heavy Western sanctions. The Russian energy firm Rosneft holds a 49.13 percent stake in the company, which operates a 400,000-barrel-per-day refinery in India’s Gujarat, PM Modi’s home state.

Nayara is the second-largest importer of Russian crude, buying about 471,000 barrels per day in January this year, accounting for nearly 40 percent of Russian supplies to India.

Its plant has relied solely on Russian crude since European Union sanctions were imposed on the company last July.

Nayara is not planning to load Russian oil in April as it shuts its refinery for more than a month for maintenance from April 10, according to Reuters.

Pokharna said the future of Nayara hangs in the balance, with the US unlikely to grant India an overt exemption for the Russia-backed company to import crude.

Can India switch to Venezuelan oil?

India has been a major consumer of Venezuelan oil in the past. At its peak, in 2019, India imported $7.2bn of oil, accounting for just under 7 percent of total imports. That stopped after the US slapped sanctions on Venezuelan oil, but some officials of the government-owned Oil and Natural Gas Corporation are still stationed in the Latin American country.

Now, major Indian refiners have said they are open to receiving Venezuelan oil again, but only if it is a viable option.

For one thing, Venezuela is roughly twice as far from India as Russia and five times further than the Middle East, meaning much higher freight costs.

Venezuelan oil is more expensive as well. “Russian Urals [a medium-heavy crude blend] has been trading at a wide-ranging discount of about $10-20 per barrel to Brent, while Venezuelan Merey currently offers a smaller discount of around $5-8 per barrel,” Voloshin told Al Jazeera.

“Importing from Venezuela and forgoing the Russian discount would be a costly affair for India,” said Pokharna. “From transportation cost to forgoing discounts, it could cost India $6-8 more per barrel – and that is a huge increase in the importing bill.”

Overall, a complete pivot away from Russia could raise India’s import bill by $9bn to $11bn – an amount roughly equal to India’s federal health budget – per year, according to Kpler.

“Venezuelan crude must be discounted by at least $10 to $12 per barrel to be competitive,” argued Voloshin. “This deeper discount is necessary to offset the much higher freight costs, increased insurance premiums for the longer Atlantic voyage, and the somewhat higher operational expenses required to process Venezuela’s extra-heavy high-sulfur crude.”

Without deeper discounts, the longer journey and complex handling make Venezuelan oil more expensive on a delivered basis, he added.

Another major issue is that many Indian refiners simply do not have the facilities to process very heavy Venezuelan oil.

Venezuelan crude is a heavy, sour oil, thick and viscous like molasses, with a high sulphur content requiring complex, specialised refineries to process it into fuel. Only a small number of Indian refineries are equipped to handle it.

“[Venezuelan oil’s heaviness] makes it an option only for complex refineries, leaving out older and smaller refineries,” Pokharna told Al Jazeera. “The shift is operationally difficult and would require blending with more expensive light crudes.”

Then there is the question of availability. Today, Venezuela produces barely a million barrels per day when pushed to its limit. Even if all production was sent to India, it would not match the total Russian oil import.

Where else could India buy oil?

India’s Minister Puri has said that New Delhi is looking to diversify sourcing options from nearly 40 countries.

As India has reduced Russian imports, it has increased them from Middle Eastern nations and other countries in the Organization of the Petroleum Exporting Countries (OPEC). Now, while Russia accounts for nearly 27 percent share in India’s oil imports, OPEC nations, led by Iraq and Saudi Arabia, contribute 53 percent.

Reeling from Trump’s trade war, India has also increased purchases of US oil. American crude imports to India rose by 92 percent from April to November in 2025 to nearly 13 million tons, compared to 7.1 million in the same period in 2024.

However, India would be competing for these supplies with the European Union, which has pledged to spend $750bn by 2028 on US energy and nuclear products.

Meanwhile, for Venezuela to return to higher production, Caracas needs political stability, changes in foreign investment and oil laws, and to clear debts. That will take time, experts say.

nayara
Customers refuel their vehicles at a Nayara Energy Limited fuel station, the Russian oil major Rosneft’s majority-owned Indian refiner, in Bengaluru, India on December 12, 2025 [File: Idrees Mohammed/AFP]

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These exiled Venezuelans dream of returning home. What’s stopping them? | Nicolas Maduro News

The ‘test’ of a new country

This longing is shared by Angelica Angel, a 24-year-old student activist in exile.

She had grown up with tear gas and police beatings in Venezuela. After all, she had started protesting at age 15.

“They’ve pointed their guns at me, beaten me and almost arrested me. That’s when you realise that these people have no limits: They target the elderly, women and even young girls,” Angel said.

But the increasing political repression ultimately made her life in Merida, a college town in western Venezuela, untenable.

After 2024’s disputed presidential election, Angel decided to voice her outrage on social media.

Maduro had claimed a third term in office, despite evidence that he had lost in a landslide. The opposition coalition obtained copies of more than 80 percent of the country’s voter tallies, showing that its candidate, Edmundo Gonzalez, had won the race.

Protests again broke out, and again, Maduro’s government responded with force.

Military and security officers detained nearly 2,000 people, including opposition leaders, journalists and human rights lawyers.

When Angel denounced the arbitrary detentions on TikTok, she began receiving daily threats.

By day, anonymous phone calls warned her of her impending arrest. By night, she heard pro-government gangs on motorcycles circling her home.

Fearing detention, she fled to Colombia in August 2024, leaving her family and friends behind.

But living outside Venezuela gave her a new perspective. She came to realise that the threats, persecution and violence she had learned to live with were not normal in a democratic country.

“When you leave, you realise that it isn’t normal to be afraid of the police, of unknown phone calls,” said Angel, her voice trembling. “I’m afraid to go back to my country and to be in that reality again.”

For exiled Venezuelans to return safely, Angel believes certain benchmarks must be met. The interim government must end arbitrary detention and allow opposition members, many of whom fled Venezuela, to return.

Only then, she explained, will Venezuela have moved past Maduro’s legacy.

“Exiles being able to return is a real test of whether a new country is taking shape,” she said.

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What does 303 billion barrels of Venezuelan oil look like? | US-Venezuela Tensions News

Oil becomes more meaningful when you turn it into fuel.

A barrel contains 159 litres of crude oil, or 42 gallons.

To use this oil, it must be refined. The refining process produces various products, including petrol, diesel, jet fuel and numerous household items, such as cleaning products, plastics and even lotions.

Once refined, a barrel typically produces about 73 litres, or 19.35 gallons, of petrol to power cars and trucks.

A pick-up truck that can drive 24 miles on 1 gallon of petrol, or 100km on 10 litres, can travel about 730km, or 450 miles, from one barrel of oil.

Put another way, one barrel of crude oil can fuel that pick-up on a trip from New York City to Cleveland, Ohio.

INTERACTIVE - Venezuela oil - How many Michigan stadiums could hold Venezuelas oil-1770023997
(Al Jazeera)

Now let’s scale that up to US national consumption. According to the US Energy Information Administration, the US has about 285 million motor vehicles and consumes nearly 9 million barrels of petrol every day.

If all of Venezuela’s crude oil were refined into petrol, it could supply US vehicles for roughly 40 years at today’s consumption rate.

INTERACTIVE - Venezuela oil - How long Venezuelas oil could fuel US cars-1770023993
(Al Jazeera)

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US envoy arrives in Venezuela to reopen mission after seven years | US-Venezuela Tensions News

Laura Dogu’s visit comes as Venezuela moves to privatise its oil sector under pressure from Trump.

The top United States envoy for Venezuela has arrived in Caracas to reopen a US diplomatic mission seven years after ties were severed.

Laura Dogu announced her arrival in a post on X on Saturday, saying, “My team and I are ready to work.”

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The move comes almost one month after US forces abducted Venezuela’s then-president, Nicolas Maduro, from the presidential palace in Caracas, on the orders of US President Donald Trump.

Maduro was then taken to a prison in New York, and is facing drug trafficking and narcoterrorism conspiracy charges.

The move has been widely criticised as a violation of international law.

Venezuelan Minister of Foreign Affairs Yvan Gil wrote on Telegram that he had received Dogu, and that talks would centre on creating a “roadmap on matters of bilateral interest” as well as “addressing and resolving existing differences through diplomatic dialogue and on the basis of mutual respect and international law”.

Dogu, who previously served as US ambassador to Honduras and Nicaragua, was appointed to the role of charge d’affaires to the Venezuela Affairs Unit, based out of the US Embassy in Bogota, Colombia.

Venezuela and the US broke off diplomatic relations in February 2019, in a decision by Maduro after Trump gave public support to Venezuelan lawmaker Juan Guaido, who claimed to be the nation’s interim president in January that year.

Minister of the Popular Power for Interior Diosdado Cabello, one of Venezuela’s most powerful politicians and a Maduro loyalist, said earlier in January that reopening the US embassy in Caracas would give the Venezuelan government a way to oversee the treatment of the deposed president.

Although the Trump administration has claimed that Maduro’s abduction was necessary for security reasons, officials have also repeatedly framed their interests in Venezuela around controlling its vast oil reserves, which are the largest in the world.

Since the abduction, Trump has pressured Interim President Delcy Rodriguez to open the country’s nationalised oil sector to US firms.

The two countries have reached ‌a deal to export up ⁠to $2bn worth of Venezuelan crude to the US, and on Thursday, Rodriguez signed into law a reform bill that will pave the way for increased privatisation.

The legislation gives private firms control over the sale and production of Venezuelan oil, and requires legal disputes to be resolved outside of Venezuelan courts, a change long sought by foreign companies, which argue that the judicial system in the country is dominated by the governing socialist party.

The bill would also cap royalties collected by the government at 30 percent.

The Trump administration said on the same day that it would loosen some sanctions on Venezuela’s oil sector, and allow limited transactions by the country’s government and the state oil company PDVSA that were necessary for a laundry list of export-related activities involving an “established US entity”.

Trump has announced that he ordered the reopening of Venezuela’s commercial airspace and “informed” Rodriguez that US oil companies would soon arrive to explore potential projects in the country.

On Friday, Rodriguez announced an amnesty bill aimed at releasing hundreds of prisoners in the country, and said she would shut down El Helicoide, an infamous secret service prison in Caracas, to be replaced with a sports and cultural centre.

That move was one of the key demands of the Venezuelan opposition.

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Venezuela’s Rodriguez signs oil reform law while the US eases sanctions | US-Venezuela Tensions News

Venezuela’s interim President Delcy Rodriguez has signed into law a reform bill that will pave the way for increased privatisation in the South American country’s nationalised oil sector, fulfilling a key demand from her United States counterpart, Donald Trump.

On Thursday, Rodriguez held a signing ceremony with a group of state oil workers. She hailed the reform as a positive step for Venezuela’s economy.

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“We’re talking about the future. We are talking about the country that we are going to give to our children,” Rodriguez said.

The ceremony came within hours of the National Assembly – dominated by members of Rodriguez’s United Socialist Party – passing the reform.

“Only good things will come after the suffering,” said Jorge Rodriguez, the assembly’s head and brother of the interim president.

Since the US military’s abduction of Venezuela’s former leader Nicolas Maduro and his wife Cilia Flores on January 3, the Trump administration has sought to pressure President Rodriguez to open the country’s oil sector to outside investment.

Trump has even warned that Rodriguez could “pay a very big price, probably bigger than Maduro”, should she fail to comply with his demands.

Thursday’s legislation will give private firms control over the sale and production of Venezuelan oil.

It would also require legal disputes to be resolved outside of Venezuelan courts, a change long sought by foreign companies, who argue that the judicial system in the country is dominated by the ruling socialist party.

The bill would also cap royalties collected by the government at 30 percent.

While Rodriguez signed the reform law, the Trump administration simultaneously announced it would loosen some sanctions restricting the sale of Venezuelan oil.

The Department of the Treasury said it would allow limited transactions by the country’s government and the state oil company PDVSA that were “necessary to the lifting, exportation, reexportation, sale, resale, supply, storage, marketing, purchase, delivery, or transportation of Venezuelan-origin oil, including the refining of such oil, by an established US entity”.

Previously, all of Venezuela’s oil sector was subject to sweeping US sanctions imposed in 2019, under Trump’s first term as president.

Thursday’s suite of changes is designed to make Venezuela’s oil market more appealing to outside petroleum firms, many of whom remain wary of investing in the country.

Under Maduro, Venezuela experienced waves of political repression and economic instability, and much of his government remains intact, though Maduro himself is currently awaiting trial in a New York prison.

His abduction resulted in dozens of deaths, and critics have accused the US of violating Venezuelan sovereignty.

Venezuela nationalised its oil sector in the 1970s, and in 2007, Maduro’s predecessor, Hugo Chavez, pushed the government to increase its control and expropriate foreign-held assets.

Following Maduro’s abduction, Trump administration officials have said that the US will decide to whom and under what conditions Venezuelan oil is sold, with proceeds deposited into a US-controlled bank account.

Concerns about the legality of such measures or the sovereignty of Venezuela have been waved aside by Trump and his allies, who previously asserted that Venezuelan oil should “belong” to the US.

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