The Bolivarian government has also activated a plan designed to reduce dependence on foreign companies.

On Sunday, Vice President Delcy Rodriguez informed that Venezuela maintains fluid communication with the transnational oil and gas companies whose operating licenses were revoked by the U.S. government.

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“We were prepared for this situation and are ready to continue fulfilling contracts with these companies, in accordance with the Venezuelan Constitution and Venezuelan laws,” she said.

“As we have always maintained, international companies do not require a license or authorization from any foreign government, given that Venezuela neither recognizes nor applies any extraterritorial jurisdiction. We are a reliable partner and will continue honoring the agreements reached with these companies,” Rodriguez explained.

“Hydrocarbon production remains active, and the Absolute Productive Independence Plan, ordered by President Nicolas Maduro, continues its course and will remain open to all national and international investments for the development of this strategic sector.”

At the beginning of March, following the Trump administration’s formal revocation of Chevron’s license, Venezuela activated the Absolute Productive Independence Plan, designed to strengthen the oil industry and reduce dependence on foreign companies.

This strategy seeks to ensure the stable and diversified recovery of the national economy, focusing on self-sufficiency, economic independence, and social justice.

In light of a possible increase in U.S. sanctions, President Maduro ordered a review of the elements of the 13 productive sectors and an acceleration of import substitution. He also emphasized the need to create virtuous cycles of productive interaction to facilitate growth and the transition to a new economy.

teleSUR/ JF

Source: VTV

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