Venezuela's Economic Boost: $300 Million from Oil Sales Sparks Reform

Venezuela's interim president, Delcy Rodriguez, announced the receipt of $300 million from U.S. oil sales, under a deal led by Donald Trump. These funds will stabilize the Venezuelan exchange market. Additionally, reforms to the country's main oil law are being discussed, aiming to attract more foreign investments.

Venezuela's interim president, Delcy Rodriguez, announced on Tuesday that the nation has received $300 million from oil sales. This marks the first proceeds from a significant oil supply deal with the United States, following the recent capture of President Nicolas Maduro. The agreement was announced by U.S. President Donald Trump.

Rodriguez highlighted that these funds are part of a $500 million package, with the initial $300 million being crucial for Venezuelan banks. The funds will be used to stabilize the exchange market and safeguard the financial security of Venezuelan workers, ensuring their purchasing power remains intact.

In parallel, lawmaker Jorge Rodriguez revealed upcoming debates on reforms to the country's hydrocarbons law. This legislation, which has typically favored state-controlled joint ventures, aims to foster foreign investment through innovative partnership contracts, a strategy carried over from President Maduro's era.

(With inputs from agencies.)