Venezuela’s Interim Leader Taps U.S.-Trained Economist to Lure Foreign Oil Investment

Venezuela‘s interim leader, Delcy Rodríguez, has appointed a U.S.-trained economist to lead the country’s main investment agency, a move widely seen as an attempt to attract foreign investment — particularly American — to the oil industry after the ouster of Nicolás Maduro.

Rodríguez named Calixto Ortega Sánchez, a former central bank chief with professional experience in the United States, to head the International Centre for Productive Investment. Ortega is replacing Alex Saab, a close ally of Maduro who was previously accused by Washington of money laundering and was removed from government posts last week.

Ortega, who studied finance and economic policy and previously served as Venezuela’s consul in Houston, has held senior roles at the central bank, PDVSA and Citgo, as Mexico’s La Razón explains. Analysts said his appointment signals a shift toward engagement with U.S. energy companies at a moment when Washington claims significant leverage over Venezuela’s oil sector.

Writing on X, Rodríguez said Ortega’s nomination would enable “the continued attraction of national and international investment” to support economic recovery. Phil Flynn, an analyst at Price Futures Group, recently told AFP that the move sends “a signal to the Trump administration that Venezuela wants to play by the rules,” adding that it could help attract companies such as Chevron and ExxonMobil and increase crude production.

U.S. President Donald Trump has said American companies are prepared to invest as much as $100 billion in Venezuela, though he has warned Rodríguez that continued cooperation is expected. Rob Thummel, a senior portfolio manager at Tortoise Capital, told AFP that while U.S. expertise would be essential to revive oil output, investors would require “stability and political clarity” before committing large sums.

Spanish newspaper La Razón described Rodríguez not as a political moderate but as a pragmatic operator who has consolidated power through economic management. Former diplomat Imdat Oner told the outlet that Rodríguez is “a radical Chavista, in ideological terms,” but analysts cited by the paper said her recent actions reflect a willingness to adjust policy to changing realities.

As interim leader, Rodríguez has begun limited releases of political prisoners while negotiating oil arrangements with Washington, steps that have unsettled hardliners within the ruling movement. Political scientist Pietro Trepiccione told La Razón that Venezuela is now undergoing “an experiment,” warning that if U.S. oversight falters, renewed confrontation and economic deterioration remain possible.

Financial markets have responded cautiously. Caracas stocks have risen and country risk has declined since Maduro’s removal, though uncertainty persists over the durability of the interim government and the scope of future reforms.

Originally published on Latin Times