The Venezuelan government increased its pressure on Washington this Friday by demanding the complete lifting of sanctions still imposed on the country, just days after sealing a historic oil agreement with American and Italian companies.
The Minister of Hydrocarbons, Paula Henao, was responsible for conveying this position in an interview with the state channel Venezolana de Televisión, according to reporting by the EFE agency.
«We have been in a phase of investment openness, some measures are being relaxed but it is not enough,» declared Henao, who stated that the government of the acting president Delcy Rodríguez will continue to «demand the complete cessation of sanctions» with the aim of consolidating Venezuela as an «energy powerhouse».
The statements come less than a week after Caracas and Washington signed what Trump described as the largest oil agreement in history, which includes the development of 17 fields with a total of 65 billion barrels, equivalent to one-fifth of Venezuela's reserves — the largest in the world, with over 303 billion barrels.
On Wednesday, Venezuela formalized agreements in Caracas with Chevron and the Italian company Eni in the presence of U.S. Energy Secretary Chris Wright. The agreements include the inclusion of the Carabobo 1 and Carabobo 2 blocks in Petroindependencia —a joint venture between the state-owned PDVSA and Chevron— and the development of the Junín 5 block by Eni. Henao described that day as a "historic milestone."
In terms of production, the minister projected that the extraction from companies with Chevron's participation will increase from the current 270,000 barrels per day to more than 300,000 before the end of the year, with a subsequent goal exceeding 700,000 barrels daily.
"We have already started to see the mobilization of the first drilling teams to those areas for that development," he announced.
Henao argued that Venezuela "plays a fundamental role" in the global energy balance and that it is "impossible" to exclude it from that equation.
"We are precisely the guarantee of that energy balance, and a supplier that is there, readily available, a reliable supplier that definitely puts those resources at the world's disposal to be able to (...) meet all the demand," he stated.
This rapprochement between Caracas and Washington is a direct consequence of the capture of Nicolás Maduro by U.S. forces on January 3, 2026, which radically changed the bilateral relationship.
Since then, the U.S. has been lifting sanctions in stages: first through a general license from OFAC in February that allowed Chevron, Repsol, BP, Eni, and Shell to operate; then with further adjustments in March; and finally with a specific authorization for Chevron in July.
However, Washington has not completely lifted the sanctions regime. Secretary of State Marco Rubio has described the process as a three-phase transition plan —stabilization, economic recovery, and political transition— warning that calling for immediate elections using the institutional machinery inherited from chavismo would not ensure a democratic process.
The agreement has also raised concerns among the Venezuelan opposition. The leader María Corina Machado questioned the transparency of the deal and warned that the "enemies" of the U.S. are in the Miraflores government, although she did not outright reject the strategic alliance with Washington, according to EFE's report.
Rubio has made it clear that the political horizon is not closed: "In the end, the time will come when Venezuela has to be governed by a democratically elected government."
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