Venezuela’s acting president overhauls oil industry amid pressure from Trump administration

Venezuela’s acting President Delcy Rodriguez signed a law overhauling the nation’s oil sector, opening it to privatization. The move reverses a core policy of the socialist movement that has ruled the country for more than two decades.

Rodriguez’s policy shift, aimed at luring the foreign investors needed to rework the industry, comes less than one month after the U.S. captured former Venezuelan dictatorial leader Nicolás Maduro. The acting president, who served as Maduro’s vice president prior to his capture, was facing pressure from the Trump administration, which was eyeing Venezuela’s oil industry after imposing sanctions.

On Jan. 10, Trump hosted nearly two dozen top oil and gas executives at the White House. He said American energy companies will invest $100 billion to rebuild Venezuela’s “rotting” oil infrastructure and push production to record levels.

TRUMP ADMINISTRATION EASES SANCTIONS ON VENEZUELAN OIL INDUSTRY AFTER MADURO’S CAPTURE

That same day, Trump signed an executive order titled “Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People,” blocking U.S. courts from seizing Venezuelan oil revenues held in American Treasury accounts.

“We’re talking about the future. We are talking about the country that we are going to give to our children,” Rodríguez said of the reform, according to The Associated Press.

AMERICAN ENERGY DOMINANCE GIVES US THE POWER TO FEND OFF ENEMIES AND RESCUE VENEZUELA

The legislation ends the state-owned Petróleos de Venezuela SA’s (PDVSA) monopoly over the production and sale of oil, as well as pricing, and allows private companies to take control, the AP reported. 

The new law states that a private company “will assume full management of the activities at its own expense, account, and risk, after demonstrating its financial and technical capacity through a business plan approved by” Venezuela’s Oil Ministry, according to the AP. However, the outlet added that the law leaves control of hydrocarbon reserves operated by private companies with the government.

The law also allows for independent arbitration of disputes, ending the requirement that they be settled in Venezuelan courts controlled by the ruling party, according to the AP. Additionally, it modifies extraction taxes, setting a royalty cap rate of 30%, the AP reported.

President Donald Trump and Secretary of State Marco Rubio spoke with Rodriguez on Thursday, the AP reported. The call came just one day after the secretary explained to senators how the administration was planning to handle the sale of tens of millions of barrels of oil from Venezuela, the AP added. The outlet noted that Venezuela has the largest reserves of crude oil in the world.

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“What we hope to do is transition to a mechanism that allows that to be sold in a normal way, a normal oil industry, not one dominated by cronies, not one dominated by graft and corruption,” Rubio said at a Senate hearing on Wednesday.

The secretary said that the U.S. would retain control of the oil revenue and that Venezuela would submit monthly budget outlining what they need funded. Subsequently, the funds will be moved into an account over which the U.S. will have oversight. He explained that the money would not be in the hands of the U.S., but Washington would control its disbursement to ensure it benefits the Venezuelan people.

Hegseth says Department of War ‘will be prepared to deliver’ whatever Trump wants following Iran warning

Secretary of War Pete Hegseth said his department will “be prepared to deliver whatever this president expects” following a warning to Iran about its nuclear program. 

Hegseth made the remark Thursday during a Cabinet meeting, one day after President Donald Trump told Iran that “time is running out” to strike a deal. 

“They should not pursue nuclear capabilities. So we will be prepared to deliver whatever this president expects of the War Department, just like we did this month,” Hegseth said before describing the Jan. 3 U.S. military operation that captured former Venezuelan leader Nicolás Maduro. 

“No other military in the world could have executed the most sophisticated, powerful raid, not just in American history, I would say, in world history. What those men did going downtown, another country, the most secure place in the most secure base in the middle of the night without anybody knowing until those simultaneous bombs dropped three minutes before the helicopters dropped. No other country could coordinate that,” Hegseth continued. “No other president would have been willing to empower those warriors that way to be that effective.”

IRAN RESPONDS TO TRUMP PRESSURE WITH WARNING OF RETALIATION: ‘FINGERS ON THE TRIGGER’

“And that sends a message to every capital around the world that when President Trump speaks, he means business. And we are reestablishing deterrence at the War Department,” Hegseth also said. 

The secretary of War also told the Cabinet that Trump has had to “rebuild the perception of America” during his second term. 

“And at the Department of War, that meant reestablishing deterrence. What happened in Afghanistan. What happened in Ukraine, a war that never would have occurred. What happened on Oct. 7 in Israel — never would have happened under President Trump. So as a result, we’re having to rebuild how our enemies perceive us,” he said. “And when President Trump said, ‘We’re not getting a nuclear Iran, you won’t have a nuclear bomb,’ he meant it. And we sent those B-2s halfway around the world, and they never noticed.”

RUBIO REVOKES IRANIAN OFFICIALS’ US TRAVEL PRIVILEGES OVER DEADLY PROTEST CRACKDOWN KILLING THOUSANDS

“When you said, Mr. President, we’re securing the border, the military was proud to do their part alongside Homeland Security to do that. Same thing with Iran right now, ensuring that they have all the options to make a deal,” Hegseth added. 

In a Truth Social post on Wednesday, Trump said, “A massive Armada is heading to Iran.” 

“It is moving quickly, with great power, enthusiasm, and purpose. It is a larger fleet, headed by the great Aircraft Carrier Abraham Lincoln, than that sent to Venezuela. Like with Venezuela, it is, ready, willing, and able to rapidly fulfill its mission, with speed and violence, if necessary. Hopefully, Iran will quickly ‘Come to the Table’ and negotiate a fair and equitable deal — NO NUCLEAR WEAPONS — one that is good for all parties. Time is running out, it is truly of the essence!” the president warned.

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“As I told Iran once before, MAKE A DEAL! They didn’t, and there was ‘Operation Midnight Hammer,’ a major destruction of Iran. The next attack will be far worse! Don’t make that happen again. Thank you for your attention to this matter!” he added. 

Trump declares national emergency over Cuba, threatens tariffs on nations that supply oil to communist regime

President Donald Trump on Thursday declared a national emergency via an executive order over Cuba, accusing the communist regime of aligning with hostile foreign powers and terrorist groups while moving to punish countries that supply the island nation with oil.

Thursday’s executive order states that the policies and actions of the Cuban government constitute “an unusual and extraordinary threat, which has its source in whole or substantial part outside the United States, to the national security and foreign policy of the United States.”

To address that threat, Trump ordered the creation of a tariff mechanism that allows the U.S. to impose additional duties on imports from foreign countries that “directly or indirectly sell or otherwise provide any oil to Cuba,” according to the order.

The White House said the move marks a significant escalation in U.S. pressure on the Cuban government, aimed at protecting American national security and foreign policy interests.

MADURO’S CAPTURE IS ‘BEGINNING OF THE END’ FOR CUBA’S REGIME, HOUSE INTELLIGENCE CHAIR SAYS

In the order, Trump said Cuba aligns itself with and provides support for “numerous hostile countries, transnational terrorist groups, and malign actors adverse to the United States,” naming Russia, China, Iran, Hamas and Hezbollah.

The administration said Cuba hosts Russia’s largest overseas signals intelligence facility, which the order states attempts to steal sensitive U.S. national security information. The order also says Cuba continues to deepen intelligence and defense cooperation with China.

According to the order, Cuba “welcomes transnational terrorist groups, such as Hezbollah and Hamas.”

Trump also cited the Cuban government’s human rights record, accusing the regime of persecuting and torturing political opponents, denying free speech and press freedoms, and retaliating against families of political prisoners who protest peacefully.

“The United States has zero tolerance for the depredations of the communist Cuban regime,” Trump said in the order, adding that the administration will act to hold the regime accountable while supporting the Cuban people’s aspirations for a free and democratic society.

CUBA’S SHADOW IN VENEZUELA: HAVANA’S INTELLIGENCE AND MILITARY TIES EXPOSED AFTER MADURO RAID

Under the order, the Commerce Department will determine whether a foreign country is supplying oil to Cuba, either directly or through intermediaries. The State Department, working with Treasury, Homeland Security, Commerce and the U.S. Trade Representative, will decide whether and how steep the new tariffs should be if so.

Secretary of State Marco Rubio is tasked with monitoring the national emergency and reporting to Congress, while the Commerce Department will continue tracking which countries are supplying oil to Cuba.

In a fact sheet, the White House said the order is designed to protect U.S. national security and foreign policy from the Cuban regime’s “malign actions and policies,” and described the move as part of Trump’s broader effort to confront regimes that threaten American interests.

The administration said the action builds on Trump’s first-term Cuba policy, which reversed Obama-era engagement and reinstated tougher measures against the communist government.

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The executive order is set to take effect Friday.

The White House did not immediately respond to Fox News Digital’s request for additional comment.

Trump administration eases sanctions on Venezuelan oil industry after Maduro’s capture

The Trump administration announced Thursday it was easing sanctions on the Venezuelan oil industry, as the U.S. aims to ramp up production in the South American country following the capture of dictator Nicolás Maduro earlier this month.

The U.S. Treasury said it is authorizing transactions involving the government of Venezuela and state-owned oil company PdVSA that are “ordinarily incident and necessary to the lifting, exportation, reexportation, sale, resale, supply, storage, marketing, purchase, delivery, or transportation of Venezuelan-origin oil, including the refining of such oil, by an established U.S. entity.”

The new license includes significant carve-outs, with sanctions remaining fully intact for persons or entities in Russia, Iran, North Korea or Cuba.

TRUMP SIGNALS LONG ROAD AHEAD IN VENEZUELA IN HIS BOLDEST INTERVENTIONIST MOVE YET

It also excludes transactions with blocked vessels, Chinese-owned or controlled entities operating in Venezuela or the U.S., and debt swaps, gold payments or cryptocurrency payments, including Venezuela’s petro.

The announcement came as President Donald Trump pushes for the expansion of oil production in Venezuela.

“We have the major oil companies going to Venezuela now, scouting it out and picking their locations, and they’ll be bringing back tremendous wealth for Venezuela and for the United States and the oil companies will do fine too.” Trump said during a Cabinet meeting Thursday.

RUBIO SAYS US HAS NO PLAN TO USE FORCE IN VENEZUELA — BUT WARNS ‘IMMINENT THREAT’ COULD CHANGE THAT

Trump also announced during the meeting that commercial airspace over Venezuela would reopen, after the Federal Aviation Administration (FAA) released an emergency notice earlier this month blocking civil flight operations by U.S. aircraft over the South American country.

“I just spoke to the president of Venezuela and informed her that we’re going to be opening up all commercial airspace over Venezuela,” Trump said. “American citizens will be very shortly able to go to Venezuela, and they’ll be safe there and be safe. It’s under very strong control.”

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Earlier Thursday, Venezuela’s government approved opening the nation’s oil sector to privatization, with Acting President Delcy Rodríguez signing the reform into law — a move that reverses a core principle of the socialist movement that has ruled the country for more than two decades.

Trump moves to reopen Venezuelan airspace as US seeks reset with acting government

President Donald Trump announced that the commercial airspace over Venezuela would reopen after the Federal Aviation Administration (FAA) released an emergency notice earlier in January to block civil flight operations of U.S. aircraft in Venezuela airspace. 

The notice came as the U.S. conducted strikes in Venezuela and captured dictator Nicolás Maduro. 

The Trump administration has said that the U.S. would run Venezuela until a peaceful transition could occur and is currently working to restore diplomatic relations with Caracas, Venezuela. 

“I just spoke to the president of Venezuela and informed her that we’re going to be opening up all commercial airspace over Venezuela,” Trump said Thursday during a Cabinet meeting. “American citizens will be very shortly able to go to Venezuela, and they’ll be safe there and be safe. It’s under very strong control.” 

Trump said that he’s instructed Transportation Secretary Sean Duffy and the U.S. military to open the airspace over Venezuela by the end of Thursday. 

RUBIO SAYS US HAS NO PLAN TO USE FORCE IN VENEZUELA — BUT WARNS ‘IMMINENT THREAT’ COULD CHANGE THAT

Meanwhile, the U.S. is attempting to revitalize diplomatic relations with Venezuela following Maduro’s ouster. 

Secretary of State Marco Rubio told lawmakers Wednesday that the U.S. is planning to re-open its embassy in Venezuela. 

“We have a team on the ground there assessing it, and we think very quickly we’ll be able to open a U.S. diplomatic presence on the ground,” Rubio told members of the Senate Foreign Relations Committee Wednesday.

The U.S. Embassy in Venezuela, as well as flights between the U.S. and Venezuela, have been shuttered since 2019.

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Following the raid to seize Maduro, hundreds of U.S. flights to the Caribbean were canceled, including flights between the U.S. and Puerto Rico and Aruba.

Following Trump’s announcement, American Airlines announced that it would resurrect direct flights between the U.S. and Venezuela. 

“We have a more than 30-year history connecting Venezolanos to the U.S., and we are ready to renew that incredible relationship,” Nat Pieper, American’s chief commercial officer, said in a statement. “By restarting service to Venezuela, American will offer customers the opportunity to reunite with families and create new business and commerce with the United States.”

US moves fast to reopen Venezuela embassy after yearslong freeze

The U.S. will “very quickly” reopen its embassy in Venezuela and establish a diplomatic presence on the ground, according to Secretary of State Marco Rubio.

“We have a team on the ground there assessing it, and we think very quickly we’ll be able to open a U.S. diplomatic presence on the ground,” Rubio told members of the Senate Foreign Relations Committee Wednesday. 

The goal, he said, would be not just to interact with officials on the ground but also “civil society and the opposition.”

Such a move would mean restoring diplomatic relations with Venezuela, which were broken off in 2019 when the U.S. embassy’s doors shuttered.

VENEZUELA’S DELCY RODRÍGUEZ SNAPS AT WASHINGTON, DECLARES ‘ENOUGH’ OF US INFLUENCE

The Trump administration has been in dialogue with Delcy Rodríguez, Nicolás Maduro’s former vice president whom U.S. officials describe as an interim leader, since the capture of the wanted Venezuelan dictator.

Reopening the embassy would require the U.S. to acknowledge a governing authority in Caracas, Venezuela, capable of receiving diplomats — a step that would mark a clear shift from Washington’s long-standing refusal to engage Venezuela’s executive. 

The current Venezuelan leadership has “been very cooperative on that front,” Rubio said. “Obviously there’s been some hard asks along the way.”

Rubio said the administration is not seeking further military action in Venezuela but stressed that force has not been taken off the table. 

“The president never rules out his options as commander in chief to protect the national interest of the United States,” Rubio told lawmakers, while emphasizing that the U.S. is “not postured to, nor do we intend or expect to have to take any military action in Venezuela at any time.”

Rubio also offered details about the first $500 million of the U.S.-brokered sale of Venezuelan oil, saying $300 million went back to Venezuela to pay for public services, while $200 million remains in a U.S.-run account.

CIA DIRECTOR WAS IN VENEZUELA TO MEET WITH ACTING PRESIDENT DELCY RODRIGUEZ, OFFICIAL SAYS

He declined to share details on how long Rodríguez would remain in power, but said a diplomatic presence would help keep a check on the new government. 

“I can’t give you a timeline of how long it takes. It can’t take forever,” Rubio said. “But it’s not even been four weeks.”

His comments come amid mixed signals from Venezuela’s interim leadership. In recent days, Rodríguez has struck a defiant tone toward Washington, declaring she had “enough” of U.S. influence in Venezuelan politics during a speech to oil workers broadcast on state television.

The remarks appeared aimed largely at a domestic audience, even as Venezuela remains constrained by U.S. sanctions and dependent on American decisions over oil licenses and revenue controls.

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Rubio said the administration’s goal is to push Venezuela toward a democratic transition, describing the Maduro regime as “a base of operation for virtually every competitor, adversary and enemy in the world.” 

He said the U.S. is aiming for a “friendly, stable, prosperous Venezuela and democratic… with free and fair elections,” while acknowledging the process will take time.

Pressed on corruption concerns, Rubio said an audit mechanism is being established. 

“The audit will be on,” he told senators, stressing that spending would be restricted to approved public needs.

Capitol police arrest Rubio hearing disruptor; Republican senator says ‘off to jail’

The U.S. Capitol Police told Fox News Digital one person was arrested for disrupting Secretary of State Marco Rubio on Wednesday during his Senate Foreign Relations Committee hearing on Capitol Hill. 

The individual was escorted from the hearing room at the Dirksen Senate Office Building as Rubio was about to deliver his opening statement about U.S. policy towards Venezuela.  

“All right, here we go … you know the drill, off to jail,” Sen. Jim Risch, R-Idaho, said after a man in the audience got up and started yelling about a “war crime” while holding a sign that said “Hands Off Venezuela.” 

“That’s a one-year ban from the committee. Anyone who is a persistent violator will be banned for three years. So, I don’t know whether the guy falls in that category, looks like it,” added Risch, who is the chairman of the Senate Foreign Relations Committee. “I hope after three years he’ll find a more productive means of employment.”

TRUMP HAILS RUBIO AS DIPLOMATIC MENTOR AS SECRETARY OF STATE’S POWER GROWS

“Secretary Rubio, we have two hearings a week. You know, you seem to have a more robust following than most of our witnesses that come before us,” Risch added. 

“There’ll be a couple more. Thank you for stopping the clock, but I appreciate it,” Rubio responded. 

The U.S. Capitol Police said the individual was arrested for demonstrating in a committee.  

VENEZUELA’S DELCY RODRIGUEZ SNAPS AT WASHINGTON, DECLARES ‘ENOUGH’ OF US INFLUENCE

“It is against the law to protest inside the congressional buildings,” the U.S. Capitol Police told Fox News Digital.

Prior to the outburst, Risch thanked the audience for their attendance but also warned, “This is a public hearing. It is also the official business of the United States of America. And as a result of that, the committee has a zero-tolerance policy for interruptions or for attempts by anyone in the room to communicate with somebody up here or the witness.

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“So, as a result of that, if you do disrupt, you will be arrested. You’ll be banned for a year,” he continued. “However, I’m told that we have some guests today who have completed their ban and are back with us again today. We hope you’ve had the time to think about your indiscretions and will behave yourself today. If you don’t, as a persistent violator, you’ll be banned for three years this time.” 

Rubio warns NATO allies US is ‘not simply focused on Europe,’ doesn’t have unlimited resources

Secretary of State Marco Rubio said Wednesday that he relayed to NATO allies that the U.S. “may be the richest country in the world, but we don’t have unlimited resources.” 

Rubio made the remark at a Senate Foreign Relations Committee hearing on U.S. policy toward Venezuela, during which he spoke about the American military operation to capture former dictator Nicolás Maduro earlier this month.  

“One of the things we’ve explained to our allies in NATO is the United States is not simply focused on Europe. We also have defense needs in the Western Hemisphere. We have defense needs in the Indo-Pacific, and it will require us – we may be the richest country in the world, but we don’t have unlimited resources,” Rubio said. 

When pressed by Sen. Jeanne Shaheen, D-N.H., on whether the U.S. still benefits from NATO, Rubio said, “We do. I mean, the problem, but NATO needs to be reimagined as well in terms of the obligations.”

NATO CHIEF WARNS EUROPE CAN’T DEFEND ITSELF WITHOUT US AS TENSIONS RISE OVER GREENLAND

“And this is not new to this president. Multiple presidents have complained about it. I think this president just complains about it louder than other presidents,” the secretary added.

TRUMP’S NATO WARNING PUSHES EUROPE TO FACE THE COST OF DEFENDING ITSELF

Rubio added that prior to Maduro’s capture on Jan. 3, “We had in our hemisphere a regime operated by an indicted narco-trafficker that became a base of operation for virtually every competitor, adversary and enemy in the world.”

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Rubio also said Wednesday, “We are certainly better off today in Venezuela than we were four weeks ago.” 

“I’m not here to claim to you this is going to be easy or simple,” Rubio told lawmakers. “I am saying that in three and a half, almost four weeks, we are much further along on this project than we thought we would be, given the complexities of it going into it, and I recognize that it won’t be easy. I mean, look, at the end of the day we are dealing with people over there that have spent most of their lives living in a gangster paradise.”