Venezuela's New Oil Strategy: A Diplomatic Turning Point

Venezuela's acting President Delcy Rodríguez seeks legislative reforms to boost foreign investment in the oil industry, aiming to improve the country's health services and infrastructure. Her strategy marks a departure from anti-American policies, despite balancing pressures from Washington and loyalists to former President Nicolás Maduro.

Venezuela's acting President, Delcy Rodríguez, addressed lawmakers on Thursday, advocating for oil industry reforms encouraging foreign investment. Delivering her first state of the union less than two weeks after the United States toppled Venezuela's leader, Rodríguez called for diplomatic relations with the US to support the crisis-stricken nation.

Despite pressure from the Trump administration, Rodríguez detailed plans to use oil revenue to revamp Venezuela's healthcare system and other critical infrastructure. Her approach diverges from predecessors by promoting diplomacy with the US, an attempt to navigate the complex political climate post-Maduro.

With Rodríguez exonerated from elections due to presidential powers endowed by the high court, her government focuses on leveraging oil sales for national improvements. Meanwhile, US endorsement heightens her alignment with their interests despite internal and international tensions.

(With inputs from agencies.)