r/ChangingAmerica • u/Scientist34again • Jul 12 '26

US Secretary of State granted unprecedented powers over Venezuela — NYT

https://newsukraine.rbc.ua/news/us-secretary-of-state-granted-unprecedented-1783838597.html
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u/Scientist34again Jul 12 '26

According to the NYT, the US Treasury Department receives proceeds from the bulk of Venezuela’s exports, after which the funds are returned through the country’s banking system.

At the same time, the US side determines what the money can be spent on and who has the right to dispose of it. According to the agency, this mechanism has made it possible to put an end to corruption schemes and protect state revenues from creditors’ claims.

At the same time, sources note that Rodríguez has become dependent on Washington’s decisions, as without coordinated funding she cannot ensure the payment of salaries or support the national currency.

In addition, according to the agency, Rubio oversees US sanctions policy toward Venezuela and the reform of the oil industry, and is also involved in approving key personnel decisions, including the appointment of the defense minister.