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A month after the overthrow of Maduro, there are signs of thaw and the opening of the oil sector

2026-02-07 06:00

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2026-02-07 06:00

Within a month of the overthrow of authoritarian Venezuelan leader Nicolas Maduro by US forces, the country's interim authorities released hundreds of political prisoners, announced an amnesty and allowed private and foreign companies to participate in the extraction of rich oil deposits.

A month after the overthrow of Maduro, there are signs of thaw and the opening of the oil sector
A month after the overthrow of Maduro, there are signs of thaw and the opening of the oil sector
photo: Leonardo Fernandez Viloria / / Reuters / Forum

On January 3, the US military carried out a series of strikes against targets in Caracas and other cities in Venezuela. American commandos captured and deported Maduro and his wife Cilia Flores from the country. The couple appeared in court in New York, accused of, among others, about the so-called narco-terrorist conspiracy.

Despite opposition leader Maria Corina Machado's declaration that her party was ready to take power, the supporters of the deposed leader retained control. The presidential duties were taken over by Delcy Rodriguez, whom Maduro himself had previously appointed as his deputy.

Rodriguez and other dignitaries publicly condemn the U.S. intervention, but are also taking steps to restore formal diplomatic relations with this country, severed in 2019, as well as repair relations with other Western countries. They are also introducing reforms that coincide with Washington's publicly expressed demands.

The Parliament in Caracas quickly adopted a reform of the national oil sector, which opens it to private and foreign companies. This means a retreat from the policy of uncompromising nationalization pursued for over 20 years by the socialist governments in Caracas.

At the same time, the administration of US President Donald Trump began to ease sanctions on Venezuelan oil and expand the opportunities for American oil companies to operate in the country. Officials in Washington announced that the US would control the sale of Venezuelan oil indefinitely.

The intervention in Venezuela had a significant impact on the situation in communist-ruled Cuba. The US has blocked deliveries of Venezuelan oil to the island, which is almost completely dependent on imported fuels needed, among others, for for electricity production. According to some media, Washington is trying to bring about the fall of the communist regime in Havana.

In Venezuela, however, there were signs of political thaw. In mid-January, Rodriguez announced that her country was “opening to a new political period that allows for agreement despite ideological differences.” She also called for dialogue between “all political parties in the country” and “reaching agreements” with the opposition.

On January 8, authorities in Caracas announced their intention to release a “significant number” of prisoners. According to the NGO Foro Penal, 344 political prisoners have since regained their freedom. Data from this organization show that in December there were over 800 such people throughout the country.

Rodriguez also announced that she would urgently submit an amnesty bill to parliament, reform the judiciary, and close the notorious El Helicoide penitentiary in the capital, where, according to UN findings and accounts of former inmates, political prisoners were tortured.

However, there are concerns that the amnesty law may aim to ensure impunity for those responsible for repression and human rights violations. The regime also continues to maintain control over the justice system, emphasized the Argentine portal Infobae.

However, Reuters reported that after Maduro's overthrow, there was uncertainty in the country, and optimism was mixed with fear among the inhabitants. In some places, sources said, local branches of the United Socialist Party of Venezuela (PSUV) told members to spy on neighbors and report people celebrating the fall of Maduro.

The deposed leader and his wife remain in custody in New York. The American prosecutor's office charged them with, among other things, charges of participating in a “narco-terrorist conspiracy” and importing cocaine into the USA. The defendants pleaded not guilty. The date of the next hearing is set for March 17. (PAP)

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Ashley Davis

I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.

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