Venezuela’s interim President Delcy Rodriguez has called for reforms to the country’s oil industry to allow greater foreign investment, using her first state of the union address to outline a cautious shift in economic policy.
In a speech delivered on Thursday, Rodriguez said revenues from oil sales would be directed towards crisis-hit health services, economic development and infrastructure projects.
The address came less than two weeks after the United States abducted Venezuela’s leader Nicolas Maduro and his wife and intensified pressure on the interim government to open the oil sector.
While sharply criticising Washington and saying there was a "stain on our relations," Rodriguez also signalled a departure from past rhetoric.
"Let us not be afraid of diplomacy" with the United States, she said, striking a more conciliatory tone than her predecessors, who consistently denounced US intervention.
Rodriguez said income from foreign oil sales would be channelled into two funds: one dedicated to social services and public health care, and another focused on economic development and infrastructure.
Competing pressures
The acting president said her government would continue releasing prisoners detained under the administration of Maduro, describing the move as part of a "new political moment" following his removal.
Rodriguez now faces competing pressures from Washington and from officials loyal to Maduro who retain influence over Venezuela’s security forces.
Her recent speeches have reflected that tension, alternating between calls for cooperation and defiant language echoing her predecessor’s anti-imperialist stance.
Rodriguez demanded US show respect to Maduro and First Lady Cilia Flores and added her government does not fear diplomatic confrontation with the US which attacked her country on January 3.
"We know they are very powerful. We know they are a lethal nuclear power... We are not afraid to confront them diplomatically, through political dialogue," said Rodriguez.
The United States has long described Venezuela’s former leadership as a "dictatorship," while Caracas has accused Washington of meddling in its internal affairs.
Despite this, US President Donald Trump has endorsed Rodriguez while sidelining opposition leader Maria Corina Machado, whose party claims victory in the disputed 2024 elections.
On Thursday Machado, who is visiting Washington DC, met with Trump and gave him Nobel Peace medal. She did not answer reporters' questions as to whether he accepted it.
Rodriguez talked by telephone Wednesday to Trump, who went on to describe her as "a terrific person."
Trump said on social media he and Rodriguez had discussed "many topics," including oil, minerals, trade and national security.
"We are making tremendous progress," the Republican said.
