The promise of transparency in Venezuela's oil industry under Delcy Rodríguez's "new regime" is beginning to show significant cracks.
While Washington asserts its oversight of Venezuelan oil revenues following Nicolás Maduro's downfall, investigative journalists and NGOs warn that much of the opacity from the Chávez era remains unchanged.
A report by The New York Times this week highlighted that Venezuela's oil sector still operates as a "black box," despite pledges from Donald Trump and the new interim government to bring transparency to PDVSA and dismantle decades of corruption.
The investigation reveals that networks tied to the Maduro administration have, for years, diverted billions of dollars through shell companies, opaque contracts, and unsupervised oil sales.
The Role of Key Figures in Venezuela's Oil Industry
The American newspaper particularly points out Carlos Malpica Flores, nephew of Cilia Flores, as a pivotal figure in the shadow administration of Venezuela's oil wealth.
According to internal documents cited by the newspaper, companies associated with Malpica exported oil worth $11 billion between 2021 and 2022 without compensating PDVSA.
Although the Trump administration claims to have imposed audits and control mechanisms on Venezuelan oil sales, skepticism is growing. "For the first time in decades, Venezuela is selling its oil on the global market at full market prices, and the money is returning to Venezuela to be spent for the benefit of its people," Secretary of State Marco Rubio stated in late March.
Transparency Venezuela's Critique
Nonetheless, the NGO Transparency Venezuela criticized this week that the official portal "Sovereign Transparency," created by Rodríguez to supposedly disclose the use of public funds, shows only a single transaction of $300 million and fails to explain who purchased the oil or how the money was actually spent.
This criticism becomes more poignant as Michael Kozak, Deputy Assistant Secretary for Western Hemisphere Affairs, indicated that Washington has already channeled about $3 billion to Caracas from oil sales. However, this figure is not reflected on the official Venezuelan portal.
"The site lies," stated Mercedes de Freitas, director of Transparency Venezuela, questioning the lack of details about contracts, buyers, and the final destination of resources.
Implications for Cuba
The situation is particularly sensitive because President Trump has turned the Venezuelan case into a showcase of his hemispheric policy.
Since January, the White House has emphasized that the United States will maintain oversight of Venezuelan oil exports and promote substantial investments to rebuild the country's energy sector.
However, this scenario raises uncomfortable questions for Cuba.
For months, Trump and Rubio have hardened their rhetoric against Havana, insisting that the Cuban regime is corrupt, inefficient, and directly responsible for the island's economic ruin.
The message from Washington clearly points toward an eventual political change in Cuba. However, the situation in Venezuela illustrates the challenges of dismantling financial structures established over decades by authoritarian regimes.
If doubts about PDVSA's management persist in Venezuela—even with direct U.S. oversight, announced audits, and international pressure—what could happen in Cuba with the economic structure of GAESA, military enterprises, and financial networks historically controlled by the Castro regime?
The Venezuelan case demonstrates that removing a leader does not necessarily dismantle the corruption mechanisms built around the state.
In Caracas, many economic operators from the Chávez era remain active within the new oil framework. This fuels fears that, in a hypothetical Cuban transition, structures linked to the military and business power of the regime could recycle themselves, retain privileges, and maintain obscure areas beyond true citizen control.
For millions of Cubans, both on the island and abroad, the big question is not just if there will be a political change, but whether there will truly be transparency about decades of shady deals, foreign accounts, and fortunes accumulated under the military's power.
Understanding the Complexities of Oil Transparency in Venezuela and Cuba
What transparency issues are being highlighted in Venezuela's oil industry?
Investigations have uncovered ongoing opacity in Venezuela's oil sector, with billions of dollars allegedly diverted through shell companies and poorly supervised sales, despite promises for transparency.
Why is the situation in Venezuela concerning for Cuba?
The challenges faced in establishing transparency in Venezuela serve as a cautionary tale for Cuba, where similar entrenched financial structures might resist dismantling even under new leadership.
How does the U.S. view its role in Venezuela's oil transparency issues?
The U.S. has claimed to impose audits and control mechanisms on Venezuelan oil sales, yet skepticism persists about the effectiveness and transparency of these measures.