US Treasury officials meet with interim Venezuelan president amid push for oil

Caracas, Venezuela - Senior US Treasury Department officials met with interim Venezuelan President Delcy Rodriguez on Monday, as the instability of the country's electrical grid threatens US plans to increase oil production in the South American country.

Venezuela's interim President Delcy Rodriguez met with senior US Treasury Department officials as the Trump administration seeks to take charge of the country's oil industry.
Venezuela's interim President Delcy Rodriguez met with senior US Treasury Department officials as the Trump administration seeks to take charge of the country's oil industry.  © LUCAS AGUAYO / AFP

Seven months after the US abducted former President Nicolas Maduro in a military raid, Rodriguez runs Venezuela under strong pressure from President Donald Trump, who wants to take charge of the country's oil industry.

According to a statement from the Venezuelan presidency, Rodriguez met Monday with US Under Secretary for International Affairs Jonathan Greenstein and Assistant Secretary for Terrorist Financing and Financial Crimes Jonathan Burke.

During the meeting, they discussed "the pursuit of stability in the energy market and the reactivation of financial mechanisms," the presidential office said in a readout.

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Venezuela sits on the world largest proven oil reserves, but its current production of one million barrels of crude per day falls far short of the three million it averaged decades ago.

Venezuela's government, which remains under control of the ruling Chavista party, attributes the harm to sanctions imposed by the US.

Although Washington has eased the sanctions since Maduro's ouster – including an embargo against trading Venezuelan crude – it maintains sharp oversight and control of the process.

Cover photo: LUCAS AGUAYO / AFP

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