Venezuela: Delcy Rodríguez Government Surrenders to Trump

By Feroze Mithiborwala | January 31, 2026

The smoke has barely cleared from the January 3 “extraction” of President Nicolás Maduro, but the outlines of a new, corporate-oligarch managed Venezuela are already being etched into the archives of history. What is being marketed by the caretaker government of Delcy Rodríguez as a “pragmatic opening” is being denounced by the true keepers of the Bolivarian flame as a total capitulation—a “Surrender to the Terms of 1908” that effectively dissolves a century of struggle for oil sovereignty.¹

The Terms of the New Protectorate

The deal finalized on January 29, 2026, represents a radical dismantling of the Venezuelan state’s role in its own economy. At its core is the ‘Hydrocarbons Law Reform’, which grants foreign and private entities majority ownership (over 50%) and “operational control” of oil fields for the first time in two decades.²

Furthermore, the “Resources for Recognition” pact establishes a U.S.-monitored escrow system. All oil revenues are deposited into blocked accounts—principally in Qatar—and released only after the U.S. Treasury approves a monthly “humanitarian and infrastructure” budget submitted by the Rodríguez cabinet.³

As investigative journalist Anya Parampil notes, this is the ultimate structural betrayal: “The Rodríguez-Trump pact is a total betrayal of everything the Bolivarian process stood for. By accepting ‘operational control’ by U.S. oil majors and a colonial oversight board for the national budget, Delcy Rodríguez has effectively turned Venezuela into a U.S. company town.”⁴

Under this “oversight” budget, the Rodríguez government has essentially become a subsidiary of the U.S. Treasury, managing the poverty of the masses while the profits of the Orinoco flow north. Max Blumenthal, editor of The Grayzone, summarizes the situation as a predatory bankruptcy: “Trump isn’t ‘running’ Venezuela to help the people; he’s running it like a seized asset in a bankruptcy court, with the U.S. Treasury acting as the liquidator. This is 21st-century piracy dressed up as ‘stabilization’.”⁵

A Return to the Era of Concessions

For Venezuelan historians and leftists, the parallels to 1908 are unmistakable. That year marked the rise of Juan Vicente Gómez, who overthrew Cipriano Castro with U.S. naval backing and subsequently handed out massive, unregulated oil concessions to foreign syndicates.⁶ Today, by slashing royalties to as low as 0% for some projects and allowing international arbitration to bypass Venezuelan courts, the Rodríguez government has resurrected the ghost of the Gómez era.⁷

Economist Jeffrey Sachs characterized this return to colonialism – “This deal is a mockery of international law. To deny a country access to its own revenue unless approved by a committee in Washington is the definition of a protectorate. It is a catastrophic precedent for the global order.”

Voices of the Plundered: The Global Left Speaks Out

The backlash is a foundational rejection of a model that places corporate profit above the dignity of a sovereign people. Vijay Prashad, Director of Tricontinental, frames the deal as the logic of “Hyper-imperialism”: “This is a return to the ‘Big Stick’ era. The revolution is being auctioned off well-by-well, and the tragedy is that it is being done by those who once claimed to lead it.”⁹

From Venezuela – The Bolivarian Resistance:

Rafael Ramírez (Former Oil Minister): “This is a historic crime… Rodríguez is handing over the keys to our fatherland.”¹⁰
Elias Jaua (Former Vice President): “The ‘Plan de la Patria’ has been torn up and replaced by a plan for Wall Street.”¹¹
Pascualina Curcio (Economist): “This is a transfer of wealth of historic proportions.”¹²
Juan Carlos Loyal (Grassroots Chavista): “They tell us the lights will stay on, but they don’t tell us we’ve sold the sun to do it.”¹³
Andrés Velásquez (Trade Unionist): “Rodríguez is trading our natural heritage for her own political survival.”¹⁴
Student Federation of the UCV: “Sovereignty is not a luxury; it is a right. We reject this colonial budget.”¹⁵
Vladimir Padrino López (Minister of Defense): “The dignity of the FANB cannot be audited by foreign accountants.”¹⁶
Bernardo Álvarez (Diplomat): “By accepting international arbitration, we have castrated our own judicial system.”¹⁷
Socialist Tide (Marea Socialista): “The Rodríguez-Trump pact is a pact of elites, protecting ‘Boligarchs’ and ‘U.S. Oligarchs’ alike.”¹⁸
National Front of Oil Workers: “The ‘Operational Control’ clause allows foreign bosses to fire our people without recourse. It is a death sentence for labor.”¹⁹

From Colombia, Mexico, and Brazil:

11. Gustavo Petro (Colombia): “The ‘kidnapping’ of a neighbor’s president… is an assault on the dignity of South America.”²⁰

12. Claudia Sheinbaum (Mexico): “Mexico cannot support ‘oversight’ that violates the self-determination of peoples.”²¹

13. Lula da Silva (Brazil): “Rebuilding a country by placing its resources in a foreign blocked account is not recovery; it is a protectorate.”²²

14. Gerardo Fernández Noroña (Mexico): “Trump’s ‘gangsterism’ in Venezuela is a warning to us all.”

President Maduro addressing a Mass Rally of Chavistas, the Defenders of the Bolivarian Revolution

Conclusion: The Looming Revolt

The Rodríguez-Trump axis is betting that a stabilized currency and a functioning electric grid will pacify the Venezuelan masses. They are seriously mistaken. The Oil Oligarchs may have the “Absolute Resolve” of the U.S. military today, but they face a historical force they have never truly defeated: the Venezuelan people’s refusal to be a colony, a protectorate.

The revolt against this betrayal is not a matter of “if,” but “when” – and it’s coming soon on the 4^th of February!

References and Citations

“Venezuela’s acting president signs oil industry overhaul,” The Associated Press, January 30, 2026.
“Hydrocarbons Law Reform: A Legal Analysis,” Cradle Intelligence Report, January 31, 2026.
Marco Rubio, Testimony before the Senate Foreign Relations Committee, January 28, 2026.
Anya Parampil, “Corporate Coup: Venezuela and the End of Empire,” The Grayzone, January 28, 2026.
Max Blumenthal, “Venezuela: Deal-Making, Plunder & the Rule of Law,” The Grayzone, January 9, 2026.
The History of Oil in Venezuela, Oxford University Press, 2018 (re: 1908 Gómez Concessions).
“Slashing Royalties: The Race to the Bottom,” Energy News Today, January 30, 2026.
Jeffrey Sachs, Emergency Briefing to the UN Security Council, January 5, 2026.
Vijay Prashad, “The 1908 Surrender in 2026 Caracas,” Tricontinental Newsletter, January 15, 2026.
Rafael Ramírez, Public Statement via Social Media, January 29, 2026.
Elias Jaua, Address to Communal Councils, January 25, 2026.
Pascualina Curcio, Op-ed in Ultimas Noticias, January 30, 2026.
AP Interview with Catia Residents, January 26, 2026.
Andrés Velásquez, Press Conference, January 29, 2026.
Manifesto of the UCV Student Federation, January 30, 2026.
Leaked Internal Memo, FANB Command, January 27, 2026.
Bernardo Álvarez, “The End of the Judicial State,” Aporrea, January 28, 2026.
Marea Socialista Weekly Bulletin, January 31, 2026.
FSTP Joint Statement, Anzoátegui, January 30, 2026.
Gustavo Petro, Remarks at the Presidential Palace, January 26, 2026.
Claudia Sheinbaum, Morning Press Conference, January 29, 2026.
Lula da Silva, Press Conference at Planalto, January 28, 2026.
Gerardo Noroña, Speech to the Mexican Chamber of Deputies, January 27, 2026.

Feroze Mithiborwala is an expert on West Asian & International Geostrategic issues. He is the Founder-Gen. Sec. of the ‘India Palestine Solidarity Forum’. He was among the key organisers of the First Asian Convoy to Break the Siege of Gaza (2010) and the First Global March to Jerusalem (2012). Founder of the ‘India Iran Friendship Forum’ and ‘Indians in Solidarity with Venezuela’. He is also the Vice-President of Hum Bharat Ke Log, We the People of India, an organisation committed to Communal Harmony, National Unity and Constitutional Democracy.

Contact: feroze.moses777@gmail.com