Trump administration announced Thursday that it will reopen commercial airspace over the country and relax certain sanctions on its oil industry. This move marks a new phase in efforts to normalize relations with Caracas following the ousting of Venezuelan President Nicolas Maduro.
President Donald Trump confirmed that after a conversation with interim Venezuelan leader Delcy Rodríguez, U.S. officials were instructed to work towards reopening the airspace by the end of the day.
The Federal Aviation Administration (FAA) had previously issued an emergency notice blocking civil flights over Venezuela, but that restriction is now being lifted.
The U.S. Treasury also announced a new license allowing transactions involving the Venezuelan government and state-owned oil company PdVSA that are necessary for the export, sale, or refining of Venezuelan-origin oil.
However, the license includes significant carve-outs, with sanctions remaining in place against entities in Russia, Iran, North Korea, and Cuba. Transactions involving blocked vessels, Chinese-controlled entities, debt swaps, gold payments, and cryptocurrencies such as Venezuela’s petro are excluded.
President Trump emphasized the potential economic benefits of the policy shift, stating, “We have the major oil companies going to Venezuela now, scouting it out and picking their locations, and they’ll be bringing back tremendous wealth for Venezuela and for the United States.”
The announcement coincides with developments within Venezuela itself, as Acting President Delcy Rodríguez signed into law a reform that opens the country’s oil sector to privatization—a move that reverses decades of socialist policies.
Trump expressed optimism about the future of U.S.-Venezuela relations, highlighting that American citizens would soon be able to travel to Venezuela safely.
