Executive Vice President and Minister of People’s Power for Hydrocarbons, Delcy Rodríguez, emphasized that financing in the energy transition and the energy future of peoples cannot be analyzed in isolation without considering the geopolitical factor. Upon leaving her first day of participation in the 9th OPEC International Seminar being held in Austria, Rodríguez emphasized that major oil and gas producing countries and holders of reserves face illegal sanctions and unilateral coercive measures from Western governments.
The senior Venezuelan official denounced these sanctions as illegitimate and part of an economic war against sovereign nations: «The world is at war, and the economic war is an expression of aggression against countries,» she stated. In the case of Venezuela, these measures have severely impacted the hydrocarbon industry, limiting its development capacity and directly affecting its economy.
The Vice President noted that financing for the energy transition must balance investments in fossil and renewable energy sources. She explained that, although the world is moving toward cleaner sources, it is necessary to ensure an energy balance that allows developing countries to maintain their economic stability while adopting sustainable technologies.
The Energy Trilemma: Security, Sustainability, and Accessibility:
Rodríguez emphasized that without a balanced investment, the energy trilemma, which consists of ensuring energy security, environmental sustainability, and economic accessibility, cannot be resolved. She emphasized that unilateral sanctions hinder this objective, as they limit the affected countries’ ability to modernize their infrastructure and diversify their energy matrix.
Within this order of ideas, the Venezuelan Minister for Hydrocarbons spoke about the irrational blockades against multinational oil and gas companies such as Chevron, along with European companies that wish to invest in countries like Venezuela and are being detained with impunity in their production of these products.
She also asserted that the goal of achieving zero emissions in the energy sector by 2050 will not be possible because insufficient investment has been made, which means that, in the future, major energy shortages could arise due to the exclusion of sanctioned countries. Given this scenario, she emphasized that Venezuela must be part of the economic formula in order to guarantee global energy.
The Venezuelan minister called for a rethinking of the global financial system so that it does not exclude nations under sanctions: «There cannot be a just energy transition if coercive measures that suffocate entire economies are maintained,» she stated. She emphasized that OPEC and other international organizations must work on mechanisms to protect vulnerable countries from these practices.
Regarding Venezuela’s incorporation into the BRICS+ group, Rodríguez emphasized that the bloc currently holds 42% of global reserves; and in the case of Venezuela joining this important group, this figure would increase to 66% of the world’s reserves.
Finally, Rodríguez expressed her satisfaction at having attended the OPEC seminar, as she brought the truth about Venezuela and debunked many lies spread by transnational corporations. She reiterated that the energy future must be built on the basis of cooperation, not coercion, and also insisted that the international community must reject unilateral sanctions and promote an energy development model that benefits all peoples, without exclusions or geopolitical pressures.