Overview
- A New York Times report published July 11, and cited across recent coverage, says U.S. officials routed most Venezuelan export revenue to the U.S. Treasury and then disbursed funds back through Venezuelan private banks under conditions set by Washington.
- The reporting alleges Secretary of State Marco Rubio has directly communicated with Acting President Delcy Rodríguez by text to approve senior appointments, public messaging and sanctions decisions.
- Officials quoted in the reporting say the U.S. has controlled who in Venezuela can transact internationally, arranged U.S. access to oil deals and excluded some foreign firms from those opportunities.
- Venezuelans have seen little relief from the changes: inflation remains extremely high, protests have continued and recent earthquakes that killed thousands have stalled recovery and investment.
- Critics and opinion writers describe the arrangement as effectively colonial, warn of legal and diplomatic risks and say the arrangement could prompt congressional or international challenges if it continues.