CIA Director John Ratcliffe and Venezuela's interim president, Delcy Rodriguez, met this Thursday in Caracas "at the direction of President Trump," a US official reported.

The two-hour meeting aimed to build trust and communication following the US capture of former Venezuelan President Nicolas Maduro nearly two weeks ago.

Ratcliffe and Rodriguez discussed potential economic collaboration and underscored the premise that "Venezuela can no longer be a safe haven for America's adversaries," the US official revealed on Friday.

The meeting took place on the same day that Rodriguez delivered her first state of the nation address since assuming the interim presidency.

In her speech, Delcy Rodriguez announced reforms in the oil industry to allow for greater foreigners. investment, which This represents a change from Maduro's policies.

The Venezuelan interim president stated she was not afraid to confront the United States “diplomatically through political dialogue” and stressed that Venezuela must defend its “dignity and honor.”

Venezuelan Oil

US President Donald Trump has declared that American oil companies will invest in the South American country and generate profits that will benefit both the Venezuelan people and the United States.

Meanwhile, a senior official stated that the United States will “indefinitely” control sales of sanctioned Venezuelan oil.

Trump has asked oil companies to invest at least $100 billion in Venezuela, but an executive declared last week that the country is currently “not investment-ready.”

Rodriguez, who was vice president in the Maduro government, was sworn in as acting president on January 5, Two days after US forces arrested the then-leader and his wife, Cilia Flores, in an operation in Caracas.

Both are being held in New York,where they have pleaded not guilty to drug trafficking and other charges.

The US official described the meeting between Rodriguez and Ratcliffe as “historic” and stressed that this is the first ministerial-level representative to travel to Venezuela.

The meeting also coincided with the meeting between Trump and opposition leader Maria Corina Machado in Washington, who presented the US president with her Nobel Peace Prize medal.

Delcy's Concessions

In her State of the Nation address, Delcy Rodriguez assured Venezuelans that it was “very difficult” for her to deliver Maduro's annual message, and that they were working on the speech together until six hours before her arrest on January 3.

After noting that the United States is a nuclear power, the interim president said she is not afraid to participate in bilateral diplomacy. “We must unite as Venezuelans to defend our sovereignty, independence, territorial integrity, and also to defend our dignity and our honor,” she proclaimed. She added that if it were necessary to travel to Washington, DC, to meet with Trump, she would do so “walking, not dragging.” She noted that “all of Venezuela is threatened” and called for national unity to wage “the diplomatic battle.” In her speech, Rodriguez announced a proposal to reform the country's hydrocarbons law and stated that she had requested its approval from the legislature. Until now, Venezuelan hydrocarbons law stipulated that foreign partners had to work with the state-owned oil and gas company, PDVSA, which was required to hold a majority stake. The reforms, according to Rodriguez, would allow investment in new fields.

She indicated that she has instructed her government to create two sovereign wealth funds: one for social protection, so that “foreign currency is allocated directly to hospitals, schools, food, and housing,” and the second for infrastructure and social development, in order to invest in water, electricity, and roads.

The Future of Venezuela

Venezuela is going through an economic crisis, with a sharp increase in food prices and the consequent loss of purchasing power.

Delcy Rodriguez's reforms come at a time when Trump and US investors see opportunities in Venezuela, which has the world's largest proven oil reserves.

Executives from major US oil companies who attended a meeting at the White House last week acknowledged that Venezuela represents an attractive opportunity. However, they noted that significant changes would be needed for the region to become an attractive investment destination. Trump stated that his administration would decide which companies would be allowed to operate. "They will deal directly with us. They will not have to deal with Venezuela at all. We don't want them dealing with Venezuela," he declared.Trump emphasized that “one of the benefits the United States will get is an even greater reduction in energy prices.” Venezuela has maintained a complex relationship with international oil companies since crude oil was discovered on its territory more than 100 years ago. Chevron is the last major US oil company still operating in the country.

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