US lifts sanctions on Venezuela's National Assembly president

The United States has lifted economic sanctions against Jorge Rodríguez, president of Venezuela's National Assembly, according to the daily El Tiempo, which reported the move on Wednesday, October 14, 2026. The official's name has been removed from the list maintained by the Office of Foreign Assets Control, or OFAC, the U.S. agency that administers international financial sanctions.

The move comes amid a political transition in the South American country and a process of diplomatic and commercial rapprochement with Washington. Lifting these individual restrictions aims to ease channels of dialogue with Venezuela's legislative branch, a key institution in redesigning the legal framework that governs oil exploration and the attraction of foreign capital.

In parallel with these diplomatic moves, the Venezuelan executive is advancing preparations to restructure its international financial commitments. Economy sector vice president Calixto Ortega recently confirmed to specialized outlets such as Descifrado that the government will publish in the short term the official report on the sustainability of the country's external debt, a technical step seen as essential to bringing creditors to the negotiating table.

The easing of financial pressure on key figures in the ruling establishment comes as the local oil industry seeks to recover operating capacity by bringing in new infrastructure. According to El Nacional, companies in the sector have deployed workover rigs and drilling equipment in the Orinoco Belt and on Lake Maracaibo to raise crude output.