6 TRENDS IN THE VENEZUELAN LEGAL ENVIRONMENT (AS OF APRIL 15, 2026)
Carlos García Soto
Partner
This LEĜA Perspectives aims to identify 6 trends in the Venezuelan legal environment during the year 2026, as of April 15. This text is an expansion of our previous LEĜA Perspectives on 7 Topics to Look at in the Venezuelan Legal Environment, of March 10, 2026, and is based in part on the LEĜA Perspectives that have outlined the Venezuelan regulatory environment in the months of January, February, and March.
I. Introduction
The Venezuelan legal environment has seen changes since January 2026. In general, these are some regulatory changes and institutional changes, aimed at favoring the legal environment for private investment.
It is a process in constant evolution.
This first quarter has shown that the legislative priority is the energy sector. The National Assembly has enacted some laws to encourage investment, as was the case with the new Organic Law on Hydrocarbons and the Law on Mines. In the legislative agenda approved by the National Assembly in January, the proposal to reform the Organic Law of the Electricity System was included, as we reviewed in this LEĜA Perspectives.
The changes have also occurred through several appointments in some authorities of the Public Power, and in particular through the appointments of new authorities in the Executive Branch. There have been changes of ministers in a significant number of ministries. The vice president of the economic area and the president of the Center for Productive Investment were replaced.
What follows is an attempt to systematize some of the trends in these changes that can be observed since January 2026.
II. Aligning Changes in Venezuelan Legislation with U.S. Foreign Policy
One of the fundamental features of the changes in the Venezuelan legal environment is the alignment of changes in Venezuelan legislation with the foreign policy of the U.S. government.
This has been manifested in the synchrony that has existed between the reform of the Organic Law on Hydrocarbons and the OFAC Licenses to favor the participation of companies in this sector. Revealing was the case of the publication of the reform of the Organic Law on Hydrocarbons on January 29, 2026 and the publication of OFAC’s General License No. 46 on the same day, to authorize U.S. entities for the extraction, export, sale, transportation, storage and refining of oil of Venezuelan origin.
In the case of the mining sector, the order was reversed: on March 6, OFAC General License No. 51 was published to authorize operations that are habitual and necessary for the export, sale, supply, storage, purchase, delivery or transport of gold of Venezuelan origin for import into the United States, and on March 9, the reform of the Organic Law of Mines.
III. Changes of state authorities
Since January, there have been significant changes in the presidential cabinet.
The most significant changes have been:
- Minister of People’s Power of the Office of the Presidency and Monitoring of Government Management
- Sectoral Vice-President for Economy
- President of the International Centre for Productive Investment and its Board of Directors
- Minister of People’s Power for the Social Labor Process
- Abolition of the Ministry of People’s Power of Industries and National Production and the Ministry of People’s Power of National Trade and the creation of the Ministry of People’s Power of Industries and National Commerce
- Minister of People’s Power for Industries and National Commerce
- Minister of People’s Power for Foreign Trade
- Minister of People’s Power for Electric Energy
- Minister of People’s Power for Transport
- Minister of People’s Power for Health
- Minister of People’s Power for Habitat and Housing
- Minister of People’s Power for Communication and Information
- Minister of People’s Power for Tourism
- Attorney General of the Republic
- Chargé d’Affaires Ad Hoc, at the Embassy of Venezuela in Washington D.C.
- Ambassador to Colombia
- Presidential Commissioner for the Labor Constituent Assembly and Labor Consensus
- Director General of the National Telecommunications Commission (CONATEL)
IV. Simplification of the actions of the Public Administration
The National Assembly approved the Organic Law for the speed and optimization of administrative procedures, published in the Official Gazette No. 7018 extraordinary of April 8, 2026. The purpose of the Law is to “establish the regulatory basis and the authorization of the Public Administration to execute quickly and effectively the necessary mechanisms that allow greater speed and the optimization of administrative procedures and procedures, in order to reduce the processing and response times of citizens to their requests and petitions addressed to the Public Administration” (Article 1).
V. Privatization policies?
A number of decisions have been issued that could suggest future privatization policies:
- Audit of assets under the ownership or administration of State bodies or entities
In the Official Gazette No. 43,306 of January 29, 2026, Ruling No. 023 was published, through which the guidelines for the diagnosis and sanitation of the Real Estate of the Organs and Entities of the Public Sector are dictated.
As summarized in this LEĜA Perspectives, the Providence orders all public sector bodies and entities to carry out an inventory and diagnosis of their real estate, and to implement the necessary measures for the legal, administrative, and technical sanitation of real estate.
- Commission for the Disincorporation of Public Goods and the Bidding Committee for the Sale and Exchange of Public Goods of CANTV
In the Official Gazette No. 43,309 of February 3, 2026, the Act of fifteen (15) of October 2025 was published, through which the Members of the Commission for the Disincorporation of Public Assets and the Bidding Committee for the Sale and Exchange of Public Goods of CANTV are appointed.
- Strategic Asset Evaluation Committee
On April 9, the president in charge announced that a Strategic Asset Evaluation Commission would be created, to attract investments. Hydrocarbon assets would be excluded from the commission’s assessment.
VI. Opening up in the hydrocarbons and mining sector
- Law on the Reform of the Organic Law on Hydrocarbons
The Law amending the Organic Law on Hydrocarbons was published in the extraordinary Official Gazette No. 6,978 of January 29, 2026.
As we summarize in this LEĜA Perspectives, the reform allows the participation of private companies in the direct execution of primary activities, expands the powers of the minority partner in the joint venture, allows local and international arbitration and simplifies the tax regime in the hydrocarbons sector.
A. Organic Law of Mines
The National Assembly approved the new Organic Law on Mines, which repeals the 1999 Law and the Gold Law. The new Law reopens the legal space for the granting of mining concessions, and mining operation contracts. At the time of writing, it has not been published in the Official Gazette.
VII. Some measures announced with an impact on the Venezuelan legal environment
- Minimum wage increase
On April 9, the president in charge announced that an increase in the minimum wage would be decreed on May 1. He noted that the increase would be “responsible and sustainable.”
- Tax law reform
In the economic announcements of April 9, the president in charge announced the installation of the National Council of Productive Economy, to design a new, more efficient tax model.
- Labour law reform
Another of the presidential announcements was the creation of the Commission for the Great Labor Dialogue, which will have as its task the discussion of wage sustainability. In this LEĜA Perspectives we had pointed out that the legislative agenda of the National Assembly approved in January announced the preparation of a Social Code.
- Reform of the real estate regime
One of the presidential announcements on April 9 was the reform of real estate legislation.
Contacts:
LEĜA Abogados
infolaw@lega.law
+58 (212) 277.22.00
www.lega.law
Carlos García Soto
cgarciasoto@lega.law
+58 414 2361240
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