Venezuela Leader Approves Privatization Of Oil, Proposes Amnesty Bill

Venezuelan Leader Approves Privatization of Oil, Proposes Amnesty Bill VENEZUELA Venezuela Venezuela’s acting President Delcy Rodríguez this week approved a law that would open the country’s oil sector to private investment, acceding to the US’ demands less than a month after the seizure of President Nicolás Maduro in a US military attack, the Associated Press reported. The law ends the two-decade Venezuelan state monopoly over the country’s oil sector. The approval prompted the US to lift certain sanctions on Venezuela, with the aim of luring foreign capital to revive output from the world’s largest proven crude reserves. The shift marks a sharp departure from policies under former president Hugo Chávez, who used oil windfalls to fund expansive social programs. But falling oil prices, mismanagement and later US sanctions eroded production and profits, leading to a deep economic crisis by 2013. Separately, Rodríguez on Friday unveiled a general amnesty bill that could free hundreds of political prisoners, in another move to advance a cautious reset with Washington, CBS News reported. The proposal has long been sought by the US-backed opposition, with its leader María Corina Machado saying the bill was not announced “voluntarily, but rather in response to pressure from the US government.” Rodríguez said that the ruling party-controlled parliament would take up the bill and framed the measure as an effort to “heal the wounds left by the political confrontation fueled by violence and extremism.” The government has not published the text of the bill, prompting questions about who is eligible under the general amnesty. The proposed legislation would cover “the entire period of political violence from 1999 to the present,” according to Rodríguez. It would not apply to individuals convicted of murder, drug trafficking, corruption or human rights violations. Rodríguez also announced the closure of Helicoide, a Caracas detention center long linked to torture allegations, saying it would be converted into a sports and cultural complex. According to the Venezuelan-based human rights group Foro Penal, around 711 people remain detained for political activities. Since Maduro’s capture, Caracas has released more than 300 detainees, according to the watchdog group. On Saturday, Laura Dogu, the chief US diplomat to Venezuela, traveled to Caracas to meet Venezuelan officials, as part of the Trump administration’s efforts to reopen the US embassy there for the first time in nearly seven years, CNN wrote. Venezuelan Foreign Minister Yván Gil said upcoming talks were aimed at charting a roadmap on bilateral issues and resolving differences “through diplomatic dialogue and on the basis of mutual respect and international law.”