Venezuela in April 2026: the most important developments in economy
In April 2026, Venezuela's economy was shaped by the easing of US sanctions and a return of foreign companies and institutions. Sanctions on acting President Delcy Rodríguez were lifted in early April, and the US lifted sanctions on the central bank around 14 April. Rodríguez called for a "Venezuela free of sanctions". The IMF resumed relations with Venezuela on 16 and 17 April, after a break since 2019. Repsol announced a production growth plan, Eni and Repsol reached a deal to begin exporting Venezuelan natural gas in 2031, and Chevron became the country's largest private oil producer. Venezuela approved a mining law to encourage foreign investment, and it continued negotiations with Siemens and General Electric to restore its power grid.
Oil sales widened. India's Reliance bought crude directly from PDVSA as Middle East supply faltered, and a US refinery began processing Venezuelan oil. At home, Rodríguez asked workers for patience and announced a wage increase from May.
by WorldBrief & Maksim Micheliov | AI-generated summary
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