Venezuela Liberalizes Oil Sector, Boosting US Ties and Trump's Influence

• Venezuelan lawmakers are debating a bill to open the oil sector to private investors, ending decades of state control.
• The move follows the ouster of Nicolas Maduro and is promoted by acting leader Delcy Rodriguez, signaling a rapid thaw in US-Venezuela relations.
• The US has appointed Laura F. Dogu as charge d'affaires to Venezuela, a step towards restoring full diplomatic ties severed in 2019.
• The new legislation allows private companies to independently engage in oil exploration and extraction, removing the requirement for joint ventures with state-owned PDVSA.
• Rodriguez has already used $300 million from a US-brokered oil sale to stabilize the bolivar and released political prisoners to gain support.

Why It Matters: Venezuela is liberalizing its oil sector and rapidly improving ties with the US after Maduro's ouster.