A new legal development in a New York court reveals a possible collaboration between the lawyers representing the government of acting Venezuelan president Delcy Rodríguez and attorneys working for the opposition that controlled the National Assembly in 2015. The key is that these opposition members, represented by Juan Guaidó, took control of some of Venezuela’s assets in the United States in 2019, when Donald Trump was in his first term as U.S. president and did not recognize Nicolás Maduro during Venezuela’s presidential crisis of 2019-2023. Instead, Guaidó was recognized as interim president by 88 countries, including the U.S., although this recognition was revoked in January 2023.

Representatives from both sides asked Judge Sarah Netburn for a 45-day suspension of a case in which creditors are seeking to seize U.S. funds linked to the state-owned oil company Petróleos de Venezuela (PDVSA), while it is determined who will represent Venezuela’s interests. The judge granted the stay until May 21 to facilitate the coordination of legal defenses.

Analysts warn that it is a move that warrants attention. If it succeeds, it would demonstrate legal cooperation between previously irreconcilable factions, thus improving Venezuela’s position in the litigation.

Washington currently considers Delcy Rodríguez to be the “sole head of state” of Venezuela, with the capacity to act on behalf of the country, in a letter sent to the Department of Justice. According to Reuters, following this recognition, Rodríguez is preparing to take over the boards of directors of PDVSA subsidiaries in the United States.

Venezuela’s most important asset in the United States is the Citgo refinery, run by an American fuel production and refining company. However, it has been under threat from some 20 international creditors, including large and medium-sized companies, who are demanding $21.3 billion from Venezuela for expropriations and defaults during the Chavista era.

To recover their debt, the creditors requested that the refinery be auctioned off, and a Delaware judge approved its sale last November. This transaction has not yet been finalized because it requires authorization from the Treasury Department’s Office of Foreign Assets Control, which since 2019 has prevented the Chavista regime from appointing Citgo’s management. The office did, however, authorize the appointments made by Guaidó when he was acting as self-proclaimed interim president. Holders of Venezuelan debt have also sought to seize this and other assets.

The new reality after January 3, when the United States captured Maduro during a military intervention in Caracas, presents a new scenario for the dozens of legal disputes and unpaid debt left behind by the years of Chavista control. Trump has outlined a transition leveraged by oil, and it is precisely in this sector where the greatest number of changes are taking place, following the full restoration of relations between Washington and Caracas. Trump has recognized Rodríguez and even removed her from the list of sanctioned Chavista officials.

For now, the most evident transformations are the oil and mining licenses, as well as the new hydrocarbon laws (already approved) and mining laws (under discussion) that have generated new expectations among foreign investors.

A group of environmental and human rights organizations warned a few days ago that oil and mining licenses could “become a global mechanism for laundering illegal gold, by allowing the sale of minerals from areas controlled by criminal networks.” Gold, in particular, is extracted in Venezuela amid serious human rights violations, smuggling, and corruption, according to reports from organizations such as the United Nations and Transparency International.

Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition