National Assembly of Venezuela

Rule Changes

Approved the reform on November 10, 2026

Venezuela's National Assembly voted unanimously on November 10 to let private companies generate and sell electricity, ending a state monopoly written into law in 2010. Concessions can run up to 25 years, and the law allows mixed companies with the state as well as wholly private operators. President of the Assembly Jorge Rodríguez said private parties could install plants, import power from a neighbor, and sell it to industrial and commercial users at a regulated rate.

Updated 2 hours ago

Money Moves

Approved the oil agreement this week

María Corina Machado returned to Venezuela on Oct. 25, and the U.S. has since laid out a sequence for presidential elections in 2027. Secretary of State Marco Rubio met Venezuelan Foreign Minister Oliver Blanco on Nov. 2 to reaffirm a three-phase plan. It runs from stabilization and economic recovery to political reconciliation and a democratic transition.

Updated 2 days ago

Rule Changes

Controlled by ruling party, led by Jorge Rodriguez

The US Treasury removed Jorge Rodriguez, president of Venezuela's National Assembly, from its sanctions blacklist on October 14. He can now use the US financial system and do business with American citizens for the first time since 2018.

Updated Oct 18