Venezuela's acting President Delcy Rodríguez announced a dramatic policy shift, advocating for increased foreign investment in the state-run oil industry and promoting diplomacy with the U.S., following the ouster of Nicolás Maduro and U.S. pledges to control Venezuelan crude sales.
Venezuela's acting President Delcy Rodríguez used her first state of the union message to propose opening the crucial state-run oil industry to more foreign investment, a significant departure from the country's deeply rooted socialist beliefs. This move comes less than two weeks after the United States captured and toppled former President Nicolás Maduro and pledged to control Venezuelan crude sales. Rodríguez urged foreign diplomats to inform investors of the changes and called for legislative reforms to ensure foreign firms' access to Venezuela's vast oil reserves. She outlined plans for oil revenues to fund sovereign wealth funds for crisis-stricken health services and public infrastructure. Despite criticizing the U.S. for Maduro's capture, Rodríguez adopted a mollifying tone, promoting the resumption of diplomacy with the U.S., a stark contrast to her predecessors' fiery rhetoric. While she claimed to be releasing prisoners from Maduro's harsh rule, human rights groups have verified only a fraction of these claims. Rodríguez appears to be balancing defending Venezuela's sovereignty with warming relations with the U.S., even as opposition leader María Corina Machado met with President Trump in Washington. However, Machado's political future remains uncertain, as Rodríguez's government appears to have consolidated power without immediate elections. Venezuelan state media continues to broadcast pro-government propaganda, and public sentiment is a mix of fear and confusion regarding the country's new political landscape, with experts suggesting the government aims to satisfy U.S. economic demands while maintaining political control.
