Delcy Rodríguez, 57, a former close associate of Hugo Chávez and Nicolás Maduro, has remarkably transitioned from a U.S. antagonist to a primary partner for Washington. Now the president of Venezuela, she has overseen a rapprochement that has transformed Venezuela into what some describe as a de facto U.S. vassal state. This arrangement, dubbed "the Rodrígato" by former U.S. ambassador James Story, involves Venezuela aligning its strategic priorities with Washington's, with Rodríguez reportedly consulting U.S. officials like Marco Rubio on domestic appointments, including her selection of a Defense Minister.
The core of this new relationship is an agreement where the U.S. supervises Venezuela's oil revenues and public finances, effectively managing a joint fund. This gives Washington influence over the allocation of export earnings and the reopening of Venezuela's energy sector, with preferential treatment for American companies. The U.S. would receive proceeds from most Venezuelan oil exports, disbursing funds only as Caracas meets agreed-upon conditions, functioning like an escrow account. This exchange offers political stability for Rodríguez, backed by U.S. investment, in return for economic oversight, energy access, and a strategic realignment of Venezuela.
The relationship has yielded tangible benefits, particularly after a major earthquake in Caracas caused over $6.7 billion in damages and killed more than 5,000 people. The U.S. State Department provided a $300 million reconstruction package, and the U.S. Southern Command offered military support for relief efforts. Furthermore, the agreement has opened Venezuela's vast oil reserves to U.S. companies. While Chevron previously was the only major U.S. oil company with a significant presence during the Maduro years, ExxonMobil, ConocoPhillips, and Halliburton are now expected to join. U.S. Interior Secretary Doug Burgum and Energy Secretary Chris Wright are negotiating more than 30 new agreements, highlighting the extent of U.S. economic engagement in Venezuela under Rodríguez's leadership.
