The lifting of sanctions by the United States (USA) on 14 October 2026 against Jorge Rodríguez, President of the National Assembly of Venezuela, represents one of the key steps in the shifting relations between Washington and Caracas.[i] Relations, which had for many years been shaped through economic sanctions and diplomatic pressure, entered a different phase following the capture of Nicolás Maduro in a US military operation in January 2026. The decision of the Donald Trump administration regarding Rodríguez brings into view the attempt to foster economic and diplomatic ties with Venezuela’s new political leadership. However, the extent to which this rapprochement will contribute to Venezuela’s democratization process remains uncertain.
Jorge Rodríguez has served as President of the National Assembly of Venezuela since 2021. Following his sister Delcy Rodríguez’s assumption of the interim presidency, he has moved into a more prominent position within the country’s new political framework. Both figures were amongst the leading political actors of the Maduro era. Indeed, in September 2018, the US added the Rodríguez siblings to its sanctions list, viewing them as part of the political inner circle sustaining the Maduro regime. The fact that Washington is today conducting negotiations with figures upon whom it previously exerted political and economic pressure indicates a shift in the instruments employed in its Venezuela policy.
At the heart of this shift lies energy relations. Venezuela holds one of the world’s largest proven oil reserves, standing at approximately 300 billion barrels. However, the magnitude of its reserves does not imply a corresponding ability to develop its production capacity. Long-standing economic problems, infrastructure deficits, and sanctions have constrained Venezuela’s operations in the oil sector. In this regard, the redirecting of foreign investment back into the country is considered by Caracas to be a crucial element of economic recovery.
The Trump administration’s initiatives targeting the Venezuelan oil sector are directly connected to Washington’s energy policy. The agreements negotiated between the two countries envisage expanding US access to Venezuelan oilfields. Greater engagement by American companies in the energy sector creates new economic opportunities for the US while providing the Venezuelan administration with access to international capital and technology. Nevertheless, the operation of oilfields, the oversight of production activities, and the exercise of sovereign rights over reserves are distinct matters. Consequently, the expansion of US influence in Venezuela’s energy sector should not be interpreted as a total transfer of ownership of the country’s oil reserves to Washington.
The reshaping of economic ties is also bringing about changes in Venezuela’s domestic law. The efforts of Delcy and Jorge Rodríguez to prepare regulations that facilitate the operations of foreign companies in the energy and mining sectors indicate a desire to open up greater space for foreign capital in the country’s economic structure. Although these regulations could contribute to enhancing investment and production capacity in Venezuela, the terms under which foreign capital operates remain critical. Revenue sharing, state supervisory authority, and long-term economic dependence represent the primary issues requiring scrutiny in this new era.
In contrast to the economic rapprochement between Washington and Caracas, political transformation does not appear to be moving at the same pace. Although the Delcy Rodríguez administration announced following Maduro’s removal that elections would be held, a definitive electoral timetable has yet to be established. In the US-backed negotiations between the government and the opposition, matters such as the reorganization of electoral bodies and the judicial structure are being addressed. However, the inclusiveness of these talks and the enforceability of any decisions reached remain subject to debate. Notably, the absence of María Corina Machado from the negotiation process raises questions as to whether all political currents within the Venezuelan opposition are represented in the current talks.
This situation calls for a re-evaluation of the relationship between economic priorities and democratization objectives in US policy towards Venezuela. Whilst the lifting of sanctions and the development of energy agreements are advancing through concrete steps, uncertainty persists regarding when and under what conditions elections will be conducted. It can therefore be argued that Washington is prioritizing the attainment of economic stability in its relations with Venezuela. Nevertheless, current developments do not prove that the US has entirely abandoned its goal of democratization. The expansion of economic ties and the reconstitution of democratic institutions are proceeding as distinct processes, and the degree to which they will reinforce one another remains to be seen.
The removal of sanctions imposed on Jorge Rodríguez also prompts a broader debate concerning the use of economic sanctions as a foreign policy tool. Washington applied sanctions in 2018 to exert pressure on the Venezuelan administration, whereas in 2026 it prefers to foster diplomatic and economic relations with the very same political circle. This divergence demonstrates that sanctions are not merely punitive measures but can also serve as tools for negotiation and bargaining under altered political circumstances. However, unless the political obligations undertaken in return for the lifting of sanctions are clarified, it remains difficult to definitively assess the decision’s impact on Venezuela’s democratic transition.
The emerging political and economic structure in Venezuela is also influencing the country’s position in international relations. The replacement of a foreign policy long defined by opposition to Washington with a more pragmatic cooperation could broaden Caracas’s room for economic maneuver. Nonetheless, for this rapprochement to be lasting, it depends not only on the development of energy agreements, but also on the functioning of political institutions, the strengthening of social representation, and the establishment of legal guarantees.
In conclusion, the rapprochement between the US and Venezuela demonstrates that energy diplomacy can reshape political relations. While the lifting of sanctions against Jorge Rodríguez serves as a major indicator of this transition, it does not signify that Venezuela’s democratization process has been completed. The expansion of economic cooperation and the strengthening of political legitimacy are two issues that must be evaluated separately. The fundamental challenge facing Venezuela is to achieve economic recovery through foreign investment while simultaneously establishing a lasting framework for political representation and institutional governance. For Washington, the nature of this new relationship will become clearer through how a balance is struck between energy interests and expectations for democratization.
[i] Vélez Santiago, Patricia. “Estados Unidos levanta sanciones contra Jorge Rodríguez, presidente de la Asamblea Nacional de Venezuela”, El País, https://elpais.com/us/2026-10-14/estados-unidos-levanta-sanciones-contra-jorge-rodriguez-presidente-de-la-asamblea-nacional-de-venezuela.html, (Accessed: 18.10.2026).
