Venezuela Demands Complete Lifting of U.S. Sanctions, Says Current Easing "Falls Short"

Venezuela's administration intensified its demands on the U.S. this Friday, urging a full repeal of the sanctions that still burden the nation, just days after finalizing a landmark oil agreement with American and Italian companies.

The country's Hydrocarbons Minister, Paula Henao, voiced this stance during an interview with the state-run Venezolana de Televisión, as reported by the EFE agency.

"We've initiated a phase of investment openness, and while some measures have been relaxed, it's not enough," Henao stated. She emphasized that the government under interim President Delcy Rodríguez will persist in "demanding the complete cessation of sanctions" to establish Venezuela as a "global energy powerhouse."

Historic Oil Deal Sparks New Demands

These remarks come less than a week after Caracas and Washington signed what former President Trump described as the largest oil deal in history. This agreement involves the development of 17 oil fields containing 65 billion barrels, approximately a fifth of Venezuela's reserves—the largest globally, exceeding 303 billion barrels.

On Wednesday, Venezuela formalized agreements in Caracas with Chevron and Italy's Eni, attended by U.S. Energy Secretary Chris Wright. The deals include incorporating the Carabobo 1 and Carabobo 2 blocks into Petroindependencia—a joint venture between state-owned PDVSA and Chevron—and developing the Junín 5 block by Eni. Henao hailed this as a “historic milestone.”

Production Growth and Strategic Role

Regarding production, the minister projected that Chevron-associated companies will increase output from the current 270,000 barrels per day to over 300,000 by year-end, with a future target exceeding 700,000 barrels daily.

"The initial drilling equipment is already being mobilized to those areas for development," she announced.

Henao argued that Venezuela plays a "vital role" in global energy balance, asserting it's "impossible" to exclude it from the equation.

"We are indeed the guarantee of that energy balance and a reliable supplier, readily available to offer these resources to meet global demand," she declared.

Shift in U.S.-Venezuela Relations

This closer engagement between Caracas and Washington stems directly from the capture of Nicolás Maduro by U.S. forces on January 3, 2026, which dramatically altered bilateral relations.

Since then, the U.S. has been gradually easing sanctions: initially through a general OFAC license in February allowing Chevron, Repsol, BP, Eni, and Shell to operate; followed by further adjustments in March; and finally a specific authorization for Chevron in July.

However, Washington has not fully dismantled the sanctions framework. Secretary of State Marco Rubio described this as part of a three-phase transition plan—stabilization, economic recovery, and political transition—cautioning that immediate elections using the existing chavista institutional machinery wouldn't ensure a democratic process.

The agreement has also raised concerns among the Venezuelan opposition. Leader María Corina Machado questioned the transparency of the deal, warning that U.S. "enemies" remain within the Miraflores government, although she did not outright reject the strategic alliance with Washington, as reported by EFE.

Rubio emphasized that the political landscape is still open: "Ultimately, the time will come when Venezuela must be governed by a democratically elected leadership."