The second phase prioritizes the economic recovery of Venezuela’s oil sector and broader market reintegration. The US intends to facilitate fair market access for American, Western, and allied enterprises, guarding against exploitation by sanctioned entities or criminal groups. Concurrently, political reconciliation measures will be initiated, involving amnesties, release of political prisoners, repatriation of exiled opposition figures, and rebuilding civil society institutions under external oversight to avoid renewed instability.
The final phase envisions a gradual political transition left ostensibly to Venezuelan decision-making but contingent on successful stabilization and recovery benchmarks. The US maintains discretion over the timing and process, underpinned by ongoing oil-sector dominance and sanctions pressures. Control of Venezuela’s vast oil reserves, long underexploited due to mismanagement and prior expropriations, forms the pivot of US strategy. This prolonged engagement aims not only to restore production but also to reshape Venezuela’s political economy in line with US national security interests, amid skepticism over political legitimacy given the continuity of figures within the provisional government. The Senate’s recent vote to limit unilateral military actions signals a cautious legislative check on further executive interventions while the situation evolves.
This article was curated and published as part of our South American energy market coverage.
