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Venezuela's interim president proposes oil reform

Venezuela's interim president proposes oil reform

Summary

Venezuela's interim president, Delcy Rodríguez, proposed changes to the country's oil laws to increase foreign involvement in the oil industry. She made these proposals while President Donald Trump expressed interest in getting U.S. companies to invest significantly in Venezuela's oil sector. Rodríguez emphasized using diplomacy in dealing with the United States and highlighted her plans to create funds for the country's social welfare and infrastructure.

Key Facts

  • Delcy Rodríguez is the interim president of Venezuela.
  • She suggested reforming the laws to allow more foreign participation in Venezuela's oil industry.
  • Rodríguez insisted on engaging with the U.S. through diplomatic channels.
  • President Trump stated that U.S. oil companies could benefit from investing in Venezuela.
  • The U.S. plans to control the sales of Venezuelan oil under current sanctions.
  • Rodríguez proposed creating two sovereign funds for social welfare and infrastructure.
  • Venezuela is experiencing an economic crisis, with high food prices and inflation.
  • Trump mentioned that the U.S. could achieve lower energy prices from these developments.

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