The Trump administration eases oil sanctions hours after Venezuela’s parliament approves privatization reforms.
Story Highlights
- US bombing raid captures dictator Nicolás Maduro on January 3, paving way for acting president Delcy Rodríguez’s pro-US shift.
- Major US energy firms like ExxonMobil and ConocoPhillips poised to return after 19-year exile, boosting American energy dominance.
- Sanctions fully intact on Russia, Iran, North Korea, and Cuba, sidelining America’s enemies from Venezuelan riches.
- $300 million from the first US crude sale stabilizes Venezuela’s currency, signaling immediate economic wins from free-market reforms.
Maduro’s Capture Triggers Rapid Reforms
On January 3, 2026, a US bombing raid in Caracas captured socialist dictator Nicolás Maduro, ending his iron grip after years of misery for Venezuelans. Acting President Delcy Rodríguez, once his deputy, swiftly pivoted with US backing. On January 29, Venezuela’s parliament unanimously approved sweeping oil reforms. These laws dismantle two decades of state control under PDVSA, inviting private investment and foreign operators.
Trump Administration Delivers Sanctions Relief
The US Treasury Department issued a general license on January 29, just one hour after parliament’s vote. This authorizes US entities to handle Venezuelan oil transactions, from export to refining. Carve-outs block Russia, Iran, North Korea, Cuba, Chinese firms, and risky payments like crypto or gold. President Trump declared major oil companies are already scouting sites, promising tremendous wealth for America and Venezuela. He also reopened commercial airspace, ensuring safe access for business.
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US Energy Giants Eye Massive Returns
ExxonMobil, ConocoPhillips, and Chevron prepare to reclaim fields seized in 2007 when they refused Chávez’s majority state control demands. Venezuela holds one-fifth of global oil reserves, once a top US supplier. Reforms allow private firms operational autonomy, reversing joint ventures that crippled the industry through corruption and underinvestment. Rodríguez called it a “historical leap,” allocating $300 million from initial US sales to bolster the bolivar. Trump pushes a $100 billion reconstruction plan to ramp production back to historic peaks. Government evaluation of existing ventures starts now, with new contracts over the next six months.
Geopolitical Victory Over Adversaries
Trump’s strategy consolidates US leverage, backing Rodríguez in exchange for oil access while excluding hostile regimes. Short-term gains include capital influx, currency stability, and job creation. Long-term, expect production surges, GDP growth, and eroded Russian-Iranian footholds. This precedent challenges Latin America’s resource nationalism, favoring American prosperity and energy independence.
Venezuelan citizens stand to benefit from revival, though wealth distribution remains uncertain amid elite risks. Global oil markets face supply boosts, potentially lowering prices for hardworking Americans.
Sources:
Fox News: Trump administration eases sanctions on Venezuelan oil industry after Maduro’s capture
Le Monde: US eases Venezuela sanctions after oil sector reforms
