U.S. Treasury Removes Sanctions on Venezuelan Interim President Delcy Rodríguez

The U.S. Treasury Department removed sanctions against Venezuelan interim President Delcy Rodríguez on April 1, 2026, striking her name from the Office of Foreign Assets Control's Specially Designated Nationals List, in the latest sign of rapidly improving ties between Washington and Caracas. The Treasury's update cancelled two records in Rodríguez's name that dated back to 2018, when she was sanctioned during Donald Trump's first term as a member of then-President Nicolás Maduro's inner circle. The removal theoretically allows Rodríguez to operate without previous constraints on assets and transactions under U.S. jurisdiction, and enables her to work with U.S. companies and investors more freely. The decision came less than three months after U.S. forces seized Maduro in a raid on Caracas on January 3, 2026, setting off a chain of political changes in Venezuela. Rodríguez, who had served as Maduro's Vice President, subsequently assumed the interim presidency and has since multiplied concessions toward Washington.

Rodríguez calls Trump's move a path to normalization Rodríguez welcomed the sanctions removal in a post on the social media platform X, framing it as a milestone in bilateral relations. „President Trump's decision is a significant step in the right direction for the normalization and strengthening of relations between our countries.” — Delcy Rodríguez via Adnkronos She expressed confidence that further sanctions relief would follow, stating that lifting the remaining measures would enable rapid economic development, investment, and effective bilateral cooperation. The Trump administration has engaged extensively with Rodríguez's interim government, including on an agreement for the U.S. to sell Venezuelan oil, and has issued sanctions waivers to encourage U.S. investment. In March 2026, the U.S. Treasury Department issued an authorization allowing state-owned PDVSA to sell Venezuelan oil directly to U.S. companies and on international markets. According to Le Temps, Trump has repeatedly stated that he effectively leads Venezuela from Washington, a claim that underscores the degree of U.S. influence over Rodríguez's government.

Citgo board takeover looms as embassy reopens in Caracas Rodríguez's administration is preparing to take over the boards of PDVSA's U.S. subsidiaries, including Citgo Petroleum, according to four sources close to the preparations cited by Reuters. Citgo, described as the crown jewel of Venezuela's foreign assets, has been run since 2019 by supervising boards appointed by an opposition-led congress that is no longer active. Rodríguez has yet to complete her board member lists for Treasury approval, after some proposed names were not well received in Washington, two of the sources said. Treasury officials have already contacted members of Citgo's existing board to signal that new members appointed by Rodríguez are expected to be authorized, provided they receive clearance from Washington. The U.S. State Department must also align with the appointments and provide policy guidance to OFAC before any specific license is issued. Separately, the U.S. State Department announced the formal reopening of its embassy in Caracas on March 30, 2026, after a seven-year closure, marking another concrete step in the diplomatic rapprochement.

Reforms at home as anti-imperialist rhetoric goes quiet Since assuming the interim presidency, Rodríguez has moved to align Venezuela's domestic policies with Washington's expectations while suppressing the anti-imperialist rhetoric that defined the Maduro era. She has overseen a revision of Venezuela's hydrocarbons law opening the energy sector to private investment, promulgated an amnesty intended to secure the release of all political prisoners, and announced a judicial reform. The Trump administration has in parallel removed sanctions on major Venezuelan industries, lifting the embargo on the country's oil sector in stages. Maduro and his wife, Cilia Flores, remain on trial in New York on drug trafficking charges following their capture in January. Rodríguez's envoys have also informed law firms that represented Venezuela, PDVSA, and its subsidiaries in U.S. courts in recent years that their contracts are under review and could be suspended, according to Reuters sources.

Venezuela's relations with the United States deteriorated sharply during Maduro's presidency, which began in 2013 following the death of Hugo Chávez. The Trump administration imposed sweeping sanctions on Venezuela's oil sector in 2019, and the U.S. Embassy in Caracas was closed as diplomatic ties collapsed. Rodríguez was first sanctioned in 2018 during Trump's first term as part of broader measures targeting Maduro's inner circle. The U.S. had previously recognized opposition figures rather than Maduro's government as Venezuela's legitimate leadership, a position that changed following the January 2026 capture of Maduro and the subsequent U.S. recognition of Rodríguez in March 2026.

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