Venezuela's interim president Delcy Rodríguez has proposed new oil reforms in her first state of the union address since former president Nicolás Maduro was seized by the US.
Rodríguez indicated her intentions to reform the law that limits foreign involvement in the country's oil industry - a significant pivot from Maduro's policies.
She expressed a willingness to engage diplomatically with the US, asserting the need to defend Venezuela's sovereignty and dignity.
President Donald Trump has highlighted that US oil companies could invest in Venezuela, which holds the world's largest proven oil reserves, suggesting that profits could benefit both Venezuela and the US.
Rodríguez, who was sworn in after US forces apprehended Maduro on drug trafficking charges, acknowledged the challenges of her new role, particularly in delivering Maduro's prior annual report amidst an economic crisis affecting daily lives.
In her proposals, she outlined plans to reform Venezuela's hydrocarbon law and to create sovereign funds aimed at providing social protections and infrastructure development.
As Venezuela grapples with inflation and a dire economic situation, the interim president hopes to attract foreign investments to improve the lives of Venezuelans.
