“Venezuela’s Rodriguez signs oil reform law while the US eases sanctions”, 30 January 2026.

...Venezuela’s interim President Delcy Rodriguez has signed into law a reform bill that will pave the way for increased privatisation in the… oil sector, fulfilling a key demand from her United States counterpart, Donald Trump…

Thursday’s legislation will give private firms control over the sale and production of Venezuelan oil.

It would also require legal disputes to be resolved outside of Venezuelan courts, a change long sought by foreign companies, who argue that the judicial system in the country is dominated by the ruling socialist party.

The bill would also cap royalties collected by the government at 30 percent.

While Rodriguez signed the reform law, the Trump administration simultaneously announced it would loosen some sanctions restricting the sale of Venezuelan oil…