Venezuela opens oil sector to private firms as US eases sanctions.

Venezuela’s interim president Delcy Rodriguez signed a law opening the oil sector to privatisation, allowing US firms to buy and sell Venezuelan crude oil while maintaining existing production sanctions. The legislation gives private companies control over oil production and sales, with a focus on attracting foreign investment. The reforms aim to increase oil and gas production following a $100bn reconstruction plan proposed by President Trump, signaling a significant shift in Venezuela’s economic landscape.

Want More Context? 🔎