Venezuela Approves Pro-Business Oil Reform as Trump Issues New Sanctions Waiver 
- 
Venezuelanalysis<https://venezuelanalysis.com/news/venezuela-approves-pro-business-oil-reform-as-trump-issues-new-sanctions-waiver/>

Caracas, January 30, 2026 (venezuelanalysis.com) – The Venezuelan National 
Assembly has approved a sweeping reform of the country’s 2001 Hydrocarbon Law 
that rolls back the state’s role in the energy sector in favor of private 
capital.


________________________________

My comment:

The US naval blockade of Venezuela has accomplished its goal.  It has shown 
that Venezuela can not export even a single barrel of oil without US 
permission.  Trade with China is no longer a viable alternative to trade with 
the US and its allies, because the US can stop any ship taking oil to China.

Hence the Venezuelan government has capitulated to US economic demands.

What would be the alternative?  If Venezuela defied the US, it would have to 
accept that its oil industry would be largely shut down (except for some 
production for domestic use, though even that would be problematic, because of 
the need to import spare parts, diluents, etc, which would be prevented by the 
US blockade).

>From an environmental perspective the closure of the oil industry would be 
>good, but it would have severe economic consequences, and cause severe 
>suffering to the Venezuelan people.

Only political change in the US can end the blockade.  There is a need for mass 
movement in solidarity with Latin America, with one of its key tasks being to 
campaign against the blockades on Cuba and Venezuela.

Chris Slee


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