economy
March 7, 2026
Venezuela's new gold rush moves at "Trump speed," but ignores a $25 million question
On the day that marks 13 years since the death of Venezuelan socialist strongman Hugo Chávez and two months after the Jan. 3 U.S. operation that captured Nicolás Maduro, the scene in Caracas looks strikingly different from the anti-U.S.-imperialism rhetoric that founded Chavismo and was echoed by his successor.
TL;DR
- The U.S. and Venezuela have restored diplomatic ties, aiming to promote stability and economic recovery.
- Dozens of U.S. oil and mining executives have visited Caracas, expressing interest in investment.
- New laws in Venezuela are designed to increase transparency and reduce red tape in the hydrocarbon and mining sectors.
- Chevron reported a record production day in Venezuela.
- Diosdado Cabello, indicted in the U.S. for narcoterrorism and with a $25 million bounty, was present at meetings between U.S. and Venezuelan officials.
- U.S. Interior Secretary Doug Burgum declined to answer questions about Cabello.
- Concerns remain about armed groups, illegal mining, corruption, forced labor, and exploitation in Venezuela's mining regions.
- The U.S. approach to addressing security concerns in mining is focused on economic solutions rather than military intervention.
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