Venezuela approves oil industry overhaul as US eases some sanctions

Venezuela’s acting President Delcy Rodriguez on Thursday signed a law that will open the nation’s oil sector to privatisation, reversing a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades. Lawmakers in the country’s National Assembly approved the overhaul of the energy industry law earlier in the day, less than a month after the brazen seizure of then-president Nicolas Maduro in a US military attack in Venezuela’s capital. As the bill was being...

Source: scmp.com at 1/29/2026 10:13:19 PM.

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