Shafaq News– Caracas
Venezuela signed its first contract to export liquefiednatural gas (LNG), acting President Delcy Rodriguez confirmed on Saturday,noting that economic diversification and import substitution remain central tothe government’s strategy.
Addressing the National Council for the Productive Economy,Rodriguez described the deal as the result of internal work by the state-ownedoil company and as a marker of the new economic course adopted by thegovernment.
She explained that foreign currency earnings fromhydrocarbon exports will no longer be channeled toward importing fuel. Instead,the revenues will be allocated to social and economic development, includingthe establishment of sovereign wealth funds designed for long-term investment.Rodriguez further outlined plans to steer financing toward productive sectorssuch as agriculture, fishing, food industries and tourism, rather thanfinancial or currency speculation.
Vice President Rodriguez was sworn in as interim presidentfollowing the launch of Operation Absolute Resolve by US forces in Caracasearlier this month, an operation that left 200 people dead and led to thecapture of President Nicolas Maduro and his wife, Cilia Flores. Both later appearedbefore a federal court in Manhattan on drug trafficking and weapons charges.
Read more: Surprise operations lead key scenarios for Iraq and the region amid US escalation
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