U.S. unfroze billions in Venezuelan assets after Maduro’s removal in a U.S.-backed coup, restarting diplomacy and access to oil.

Venezuela’s interim president, Delcy Rodríguez, announced the U.S. has begun unfreezing billions in Venezuelan assets previously frozen under sanctions, following the removal of President Nicolás Maduro in a U.S.-backed military operation on January 3. The move marks a significant shift in relations, with the U.S. resuming diplomatic engagement by appointing a new charge d’affaires and reportedly gaining access to Venezuela’s oil reserves. Rodríguez stated the funds, intended for public recovery efforts, are being used to procure medical supplies. While U.S. officials, including Secretary Marco Rubio, warned of consequences if Venezuela does not comply with American demands, Rodríguez emphasized ongoing cooperation. Maduro’s son denies the need for new elections, claiming the presidency was not legally vacated.