Venezuela Opens Oil Sector to Private Investment as US Eases Sanctions; Trump Orders Reopening of Airspace
Venezuela is opening its oil sector to private firms after a bill ending the monopoly of state-owned Petroleos de Venezuela SA was passed by the National Assembly on Thursday, less than a month after the ousting of Nicolas Maduro, Sky News reported. Interim President Delcy Rodriguez signed the reform into law, a move designed to attract foreign investment as the United States simultaneously eased sanctions on Venezuela's oil industry.
The US action authorizes American firms to buy, sell, transport, store, and refine Venezuelan crude oil, according to Sky News. This easing of restrictions comes as Donald Trump ordered the immediate reopening of commercial airspace over Venezuela, weeks after US military forces toppled Maduro, The Guardian reported. Speaking at the White House, Trump stated he had concluded a telephone conversation with Venezuela's acting president. The order allows direct flights from the US to Venezuela.
The developments signal a significant shift in Venezuela's economic and political landscape following years of turmoil. Major oil companies are already on the ground assessing potential operations, according to The Guardian.
UN Calls for Olympic Truce Amidst Global Conflicts
In other international news, the United Nations and the organizers of the Milan Cortina Winter Olympics have called for a 52-day pause in all global conflicts, Euronews reported. The proposed timeout, rooted in an ancient Greek tradition, covers the period of the Winter Games, from February 6-22, and the subsequent Paralympics, from March 6-15. The UN General Assembly resolution supporting the initiative received all 193 votes for the London Games in 2012, yet signatories have repeatedly broken their own promises, according to Euronews.
Syrian Democratic Forces Reach Agreement with Damascus
Meanwhile, in Syria, the Kurdish-led Syrian Democratic Forces (SDF) announced a new agreement with the country's central government on Friday, Euronews reported. The agreement aims to stabilize a ceasefire that ended weeks of fighting and to lay out the steps toward integration between the two sides. Syria's new leaders, since toppling former President Bashar al-Assad in December 2024, have struggled to assert full authority over a country devastated by nearly 14 years of civil war, according to Euronews.
Under the agreement, security forces affiliated with the Syrian Ministry of Interior would enter the cities of al-Hassakeh and Qamishli in the Kurdish heartland, areas they had previously been barred from, Euronews reported. Sky News reported that Kurdish-led forces are being pushed back in Syria, and Kurdish leaders warn that their way of life and their political future are at risk. Damascus is demanding they disarm and integrate into the national army, according to Sky News.
Discussion
Join the conversation
Be the first to comment