Venezuela Policy

The U.S. formally lifted OFAC sanctions on acting Venezuelan President Delcy Rodríguez on April 1, 2026, and the Treasury in March issued a broad authorization letting PDVSA sell oil directly to U.S. companies and on global markets—moves widely read as signaling U.S. recognition of Rodríguez after a U.S. military operation captured Nicolás Maduro and his wife on Jan. 3 and transported them to New York on drug‑trafficking charges. Venezuela’s high court has declared Maduro’s absence “temporary,” empowering Rodríguez to serve as acting president for up to 90 days (extendable by the National Assembly led by her brother), and the acting government has enacted hydrocarbons reforms and some political openings even as analysts warn core power structures remain and economic pain continues.