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Unidentified speaker says Venezuelan oil quarantine should remain until industry governance changes

January 05, 2026 | US Department of State


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Unidentified speaker says Venezuelan oil quarantine should remain until industry governance changes
An unidentified speaker urged that international controls on Venezuelan oil remain in place until fundamental changes are made to how the country's oil industry is governed. The speaker said the goal is not simply "securing the oil fields" but to "ensure that no sanctioned oil can come in and out until they make changes to the governance of that entire industry."

The speaker described Venezuela's oil sector as operating like "pirate operations," saying people "literally steal the oil from the ground" and that a small group of cronies benefit while the broader population sees no gains. "Those oil fields have not benefited the people of Venezuela over a decade," the speaker said, adding that profits have been diverted to make "multimillionaires, billionaires out of just a handful of people."

On operational capacity and finances, the speaker said wells were producing at "like, 18% capacity" because equipment is "all decrepit" and noted that oil is sold on global markets at steep discounts "40¢ on the dollar, 50¢ on the dollar," with proceeds not reinvested in the industry. As a remedy, the speaker recommended allowing private, non-Iranian firms to invest in refurbishing equipment and restoring production so revenue could benefit Venezuelans. "Get private companies that are not from Iran or somewhere else to go in, invest in the equipment that...hasn't been invested in in 20 years," the speaker said.

The speaker framed lifting the quarantine as conditional on "dramatic changes" in how the authorities that oversee the industry behave and concluded that "until those changes happen, this quarantine will remain in place." The transcript contains no record of a formal vote or policy decision tied to this statement; it appears as an individual or unattributed public remark in the record.

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