The U.S. and Venezuela's interim government have agreed to resume diplomatic relations, with the U.S. officially reopening its embassy in Caracas earlier this week, seven years after closing it. A Venezuelan diplomatic team has been dispatched to the U.S. to reopen its embassy in Washington. President Donald Trump stated that the U.S. has officially recognized the Venezuelan government under Delcy Rodríguez. White House spokeswoman Anna Kelly added that Delcy Rodríguez is working with the United States very well.
Delcy Rodríguez, Venezuela's acting president, spoke at a Saudi-backed investment summit in Miami on Wednesday, promoting investment opportunities in Venezuela's oil sector. She presented Venezuela's oil industry as reformed, open to private capital, international arbitration, and scrutiny. Rodríguez projected that Venezuela will see double-digit economic growth this year and the following two years. Venezuela currently produces about a million barrels of oil per day. Rodríguez said in a press conference that Venezuela is implementing reforms to attract investments and diversify the economy, noting that investors can negotiate on royalties, taxes, and dividends for oil production.
We are in a process of stabilization, implementing the reforms needed for a productive environment and to attract investments that will diversify the engines of the Venezuelan economy.
Nicolás Maduro and his wife were captured on January 3 in Caracas and taken to New York to face drug trafficking charges, according to multiple reports. Maduro and his wife have pleaded not guilty to drug trafficking charges.
Delcy Rodríguez was placed on the U.S. sanctions list in 2018, accused of undermining democracy. She was sworn in as interim president by Venezuela's National Assembly, which is dominated by Maduro loyalists, days after the U.S. raid. Rodríguez called on U.S. President Donald Trump to lift all sanctions and the blockade against Venezuela, according to her statements. She described the diplomatic reopening as a significant step to normalize relations between the countries.
When we consider a barrel of oil, its production cost, 64% of that barrel has room for negotiation with the investor regarding royalty reductions, income tax reductions, and most importantly, the dividends the investor receives. If there is a large investment, obviously the return will be higher on that 64%.
Since Maduro's removal, the U.S. and Venezuela have entered into agreements and cooperation, on U.S. terms. Venezuela has recently granted amnesty to political prisoners and given the U.S. access to oil resources. Several high-level U.S. delegations have traveled to Venezuela since Maduro's removal to discuss expanding U.S. access to Venezuela's oil and mineral wealth. Rodríguez stated in a public speech that Venezuela is opening up a new agenda of cooperation with the USA.
The Venezuelan opposition, including Nobel Peace Prize winner María Corina Machado, views the government under Rodríguez as illegitimate. Opposition activists in Caracas criticized the U.S. lifting sanctions on Rodríguez, arguing the U.S. should pressure her to release all political prisoners. Almost 500 political prisoners remain behind bars in Venezuela, according to prisoners' rights group Foro Penal. Opposition leader María Corina Machado met with U.S. Secretary of State Marco Rubio on Tuesday.
A significant step in the right direction to normalise and strengthen relations between our countries.
Let the blockade and sanctions against Venezuela end now.
President Trump, as friends, as partners, we are opening up a new agenda of cooperation with the USA.