US lifts sanctions on Venezuela acting president, opening door for assets control
The Trump administration had close ties with the interim government led by former Vice President and Maduro ally Rodriguez; He sent US energy and interior ministers to visit Caracas with potential investors, brokered a deal for the US to sell Venezuelan oil, touted changes in the oil and mining sectors aimed at attracting foreign capital, and granted sanctions relief.
In March, Washington officially recognized Rodriguez as Venezuela’s leader, opening the door for his government to reopen embassies and consulates in the United States and regain control of Venezuelan-owned companies abroad.
Rodriguez welcomed the decision, saying in a post on X that it was “a step towards normalizing and strengthening relations between our countries.”
“We believe that this progress will allow the lifting of sanctions currently in force in our country and the establishment and guarantee of an effective bilateral cooperation agenda for the benefit of our peoples.” he said.
The announcement to lift sanctions comes after Reuters reported early on Wednesday that the Rodriguez administration was preparing to take over the boards of state oil company PDVSA’s U.S. subsidiaries, including Citgo Petroleum, citing four sources familiar with the preparations.
Citgo, the crown jewel of Venezuela’s foreign assets, is run by oversight boards appointed by an opposition-led congress that has been no longer active since 2019. It has been repeatedly said that Rodriguez is making preparations to go to the United States to meet with Trump. Although he has met with high-level delegations from other countries, he has yet to meet a head of state in person in his current role.
Most senior officials in Maduro’s former government have been sanctioned, and several others, including Interior Minister Diosdado Cabello and late Defense Minister Vladimir Padrino, face drug trafficking and other charges, which they deny.
Although neither Rodriguez nor his brother Jorge, who heads the National Assembly legislature, have been charged with any alleged crimes in the United States, Reuters reports showed that the Trump administration was quietly building a case against him to strengthen its influence with Caracas.
