Venezuela acting leader urges oil industry reforms for foreign investment
Global News
Venezuela's acting president Delcy Rodríguez, who has been under pressure from the U.S. to fall in line, said oil sales revenue would go to bolster domestic services.
Venezuela’s acting President Delcy Rodriguez used her first state of the union address on Thursday to promote oil industry reforms that would attract foreign investment, an objective aggressively pushed by the Trump administration since it toppled the country’s longtime leader less than two weeks ago.
Rodríguez, who has been under pressure from the U.S. to fall in line with its vision for the oil-rich nation, said sales of Venezuelan oil would go to bolster crisis-stricken health services, economic development and other infrastructure projects.
While she sharply criticized the Trump administration and said there was a “stain on our relations,” the former vice president also outlined a distinct vision for the future between the two historic adversaries, straying from her predecessors, who have long railed against American intervention in Venezuela.
“Let us not be afraid of diplomacy” with the U.S., said Rodriguez, who must now navigate competing pressures from the Trump administration and a government loyal to former President Nicolás Maduro.
The speech, which was broadcast on a delay in Venezuela, came one day after Rodríguez said her government would continue releasing prisoners detained under Maduro in what she described as “a new political moment” since his ouster.
Trump on Thursday met at the White House with Venezuelan opposition leader María Corina Machado, whose political party is widely considered to have won 2024 elections rejected by Maduro.
But in endorsing Rodríguez, who served as Maduro’s vice president since 2018, Trump has sidelined Machado.
In her speech, Rodríguez said money earned from foreign oil sales would go into two funds: one dedicated to social services for workers and the public health care system, and another to economic development and infrastructure projects.
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