US lifts sanctions on head of Venezuela legislature

On October 14, the United States Treasury Department announced that sanctions have been lifted on Jorge Rodriguez, the head of Venezuela's National Assembly. The 60-year-old psychiatrist is also the brother of the country's acting president, Delcy Rodriguez. Rodriguez has been leading the legislature since 2021 and has served in various high-ranking positions, including vice president under late President Hugo Chavez and communications minister.

Rodriguez has been a key figure in the negotiations with the United States and Venezuela's opposition, with the aim of reforming the country's political system prior to elections. These talks, supported by the US, are currently underway with a faction of the opposition. The Venezuelan communications ministry has not yet commented on the lifting of sanctions on Rodriguez.

Acting President Delcy Rodriguez has stated her intention to hold elections, although no specific date has been set. Opposition leader Maria Corina Machado has called for elections to take place by July 2027. Since taking power, Rodriguez has spearheaded several significant reforms through the legislature under the control of the ruling party.

These reforms include laws that have allowed more foreign oil companies to enter the country, a similar law for the mining sector, and efforts to facilitate private investment in Venezuela's struggling power grid.

Following the ousting of President Nicolas Maduro, Caracas and Washington reached an agreement that grants the US access to 17 oilfields in Venezuela. Additionally, international energy firms have separately committed to expanding projects within the country. In August, former President Donald Trump announced a plan to gain direct US access to a substantial portion of Venezuela's oil reserves, which would be used to refill the US Strategic Petroleum Reserve.