Venezuela Under New Leadership, But Trump Claims Control of Oil Wealth
A fragile transition of power in Venezuela has seen Delcy Rodríguez assume the interim presidency, even as former U.S. President Donald Trump asserts a claim over the nation’s oil reserves.
The political landscape in Venezuela remains deeply unsettled following a U.S. military raid on January 3 that resulted in the capture of Nicolás Maduro and the deaths of dozens, including 55 Cuban and Venezuelan soldiers loyal to the deposed leader. Rodríguez, formerly Maduro’s vice president, was sworn in on Monday with the backing of the military and other state powers, immediately declaring her government’s independence.
“We are here governing alongside the people,” Rodríguez emphasized during a televised meeting with her economic team on Tuesday, June 1, 2026. “The government of Venezuela rules in our country, no one else. There is no external agent that governs Venezuela, it is the government of Venezuela.”
However, Trump has directly challenged this assertion, insisting he remains “in charge” and announcing plans to seize control of Venezuelan oil revenue. “This oil will be sold at its market price, and that money will be controlled by me,” he stated on his Truth Social network. He further indicated that his decision to allow Rodríguez to remain in power was not motivated by a desire to facilitate a transfer of power to the opposition, led by Nobel Peace Prize winner María Corina Machado, but rather issued a veiled threat: “If she does not do the right thing, she will pay a very high price.”
Rodríguez responded with a letter advocating for a respectful and balanced relationship between the two nations.
Maduro Faces Justice, Charges Evolve
Meanwhile, Maduro and his wife, Cilia Flores, are now facing charges in the United States related to drug trafficking and other offenses. Trump characterized Maduro as “a violent guy and he’s killed millions of people.” Notably, the Department of Justice has altered its legal strategy, scaling back references to the “Cartel of the Suns” – an alleged drug trafficking organization – in the indictment against Maduro, Flores, their son, and key members of their administration. Instead, the organization is now described as a “clientelism system,” according to reports from El País and The New York Times. The implications of this shift on the case remain unclear.
During a court appearance, Maduro claimed to be a “prisoner of war” and maintained his innocence, stating, “I am a decent man, I am still the president of my country,” before being cut off by the judge.
Navigating a Complex Transition
Rodríguez faces the daunting task of stabilizing Venezuela while navigating intense pressure from the United States and restructuring the Chavismo movement in the absence of Maduro. A retired general with close ties to the Armed Forces suggested that Rodríguez is likely to open Venezuela’s oil and mining sectors to American companies and potentially resume diplomatic relations with Washington, which were severed in 2019.
Political analyst Mariano de Alba believes the interim government’s primary goal is to “gain time to consolidate the rearrangement and take advantage of the fact that Washington’s demands and conditions are focused on the oil issue.” An electoral agenda, including the release of political prisoners, is also anticipated, though considered a secondary priority.
The interim period is limited to 180 days, after which elections must be held. Rodríguez has appointed a new economic czar, while retaining key figures from Maduro’s cabinet, including Diosdado Cabello as Minister of the Interior and Vladimir Padrino as Minister of Defense.
Former U.S. diplomat Brian Naranjo, who was expelled from Venezuela during Maduro’s tenure, cautioned, “Delcy should sleep with one eye open right now.” The situation remains highly volatile, and the future of Venezuela hangs in the balance.
