VENEZUELA · INVESTMENT
Key Facts
- —What is happening On Thursday, 22 October, the US Treasury proposed new outbound investment rules and said Venezuela does not meet the definition of a country of concern, because the Maduro regime named in the law no longer exists.
- —Why it matters The 2025 law named Venezuela under Maduro beside China, Cuba, Iran, North Korea and Russia, so Treasury’s finding marks a clear shift toward Caracas under Delcy Rodríguez, though only as a proposal.
- —The numbers Six technology areas are covered, with biotechnology added by Treasury, and notifications are due within 30 days after a deal closes, while public comments run until Monday, 7 December.
- —Who is who Scott Bessent is Treasury Secretary, Christopher Pilkerton is Assistant Secretary for Investment Security, and Delcy Rodríguez is the Venezuelan leader Washington recognised as head of state on 5 March.
- —What to watch The comment deadline of Monday, 7 December, and the final rule, which will set the effective date and is due by about mid-March 2027, on a Rio Times count of the 450-day limit in the law.
- —Power Index Venezuela ranks 13th of 14 in The Rio Times Latin America Power Index, with 27.0 points (October 2026 edition).
- —What it means for you US investors, funds and companies should not read the proposal as a green light for Venezuela, because Treasury warns the rule could still reach certain investments in Venezuelan entities.
Treasury says Venezuela does not meet the proposed definition of a country of concern in its outbound investment rules. The agency says the Maduro regime named in the law no longer exists.
On Thursday, 22 October, Treasury proposed outbound investment rules and said Venezuela does not meet the country-of-concern definition. The proposal would put into practice the Comprehensive Outbound Investment National Security (COINS) Act, enacted on 18 December 2025.
Treasury says the Maduro regime named in that law no longer exists, so Venezuela does not meet the proposed definition. The Venezuela investment restrictions change is a proposal open to comment until Monday, 7 December, not a final rule.
The Colombian business daily La República carried the story on Thursday, 22 October, citing Treasury. Its headline says Treasury withdrew Venezuela from the countries with investment restrictions, wording the Treasury documents do not use.
What Treasury Proposed on 22 October
Treasury issued a notice of proposed rulemaking that updates the Outbound Investment Security Program, in force for China since 2 January 2025. The update would require US persons to notify Treasury of certain deals with covered foreign firms in notifiable technologies.
It would also bar certain deals with covered foreign firms in prohibited technologies. Final regulations will come later and will set the effective date.
Secretary Scott Bessent said the proposed rules would strengthen the existing program and give clarity to US and foreign investors. Christopher Pilkerton, Assistant Secretary for Investment Security, said it addresses risks when foreign adversaries seek to benefit from US investment.
Why Venezuela Does Not Meet the Definition
The COINS Act lists six countries of concern: China (with Hong Kong and Macau), Cuba, Iran, North Korea, Russia and Venezuela. The law covers Venezuela only under the regime of Nicolás Maduro.
In its fact sheet, Treasury says that regime no longer exists. It adds that on 5 March 2026 the United States recognised Delcy Rodríguez as Venezuela’s head of state.
Treasury therefore concludes that Venezuela does not meet the proposal’s definition of a country of concern. The proposed rule keeps the Act’s wording, which still names Venezuela under the Maduro regime.
Treasury still tells investors to check carefully whether the rule applies to investments in Venezuela. It says the proposed rule could apply to certain investments outside a country of concern.
Which Technologies and Deals Are Covered
The COINS Act names five technology areas. They are semiconductors and microelectronics, artificial intelligence systems, quantum information technologies, high-performance computing and supercomputing, and hypersonic systems.
Treasury used its own authority to add biotechnology as a sixth area. Covered deals include equity stakes, certain debt, joint ventures, new plants and some limited partner stakes in non-US funds.
A required notification is due no later than 30 days after a deal closes. The rule would not ban all investment in these countries, only deals in technologies tied to military, intelligence, surveillance or cyber capabilities.
The Background to the Proposal
Treasury’s fact sheet says the COINS Act requires it to issue implementing regulations within 450 days of enactment. In a Rio Times calculation, 450 days from 18 December 2025 ends on Saturday, 13 March 2027.
See earlier coverage of Venezuela’s US$76 billion oil investment outlook and analysts on US policy and the vote date. Related reading covers the Venezuela law review of four political laws, though none of these pieces concerns this Treasury proposal.
What It Means for US Readers
Under this proposal, Treasury would not treat Venezuela as a country of concern for US funds and companies that invest abroad. The Act’s own text named Venezuela under Maduro.
It is not a green light for every deal, because Treasury says the rule could still apply to some Venezuelan entities. Investors in sensitive technologies should await the final rule and take legal advice.
The proposal fits a wider US effort to screen technology investment, with China the main focus. For Venezuela it signals that Washington now treats the Rodríguez government differently from the Maduro regime in this area.
What Is Not Known
Treasury has not said which Venezuelan entities or investments the rule could still reach. La República says Treasury gave no details on that point.
The proposal may change before the final rule, and Treasury has not set the effective date. Comments close on Monday, 7 December.
La República also reports that an unnamed Treasury official said the rules exclude licensing deals between US drugmakers and China. That detail is not in the Treasury release or fact sheet reviewed here, so it remains unconfirmed.
The documents reviewed do not mention US sanctions on Venezuela, so this proposal does not tell readers anything about sanctions policy. Treasury’s proposal uses the term super intelligence systems where the Act says artificial intelligence systems, and this article uses the Act’s term.
What Comes Next
The public can file comments on regulations.gov until Monday, 7 December. Treasury will then review them and publish a final rule that sets the effective date.
The final text could differ from this proposal, including on Venezuela. The proposal keeps China, Cuba, Iran, North Korea and Russia as countries of concern.
Frequently Asked Questions
What did the US Treasury do about Venezuela on 22 October?
Treasury proposed outbound investment rules and said Venezuela does not meet the definition of a country of concern. It said the Maduro regime named in the COINS Act no longer exists.
Is Venezuela now free of US investment restrictions?
No, because this is only a proposal and Treasury says it could still apply to certain investments in Venezuelan entities. Other US rules are not covered by it.
What is the COINS Act?
It is a US law enacted on 18 December 2025. It directs Treasury to require notice of, or prohibit, some US investments in sensitive technologies abroad.
Which countries are on the list?
The law names China, including Hong Kong and Macau, Cuba, Iran, North Korea, Russia and Venezuela under Maduro. Treasury says Venezuela today does not meet that definition.
When will the rule take effect?
Not yet known. Comments close on Monday, 7 December, and Treasury will set the effective date in the final rule.
Sources: US Treasury press release, 22 October 2026; US Treasury fact sheet and FAQs on the COINS Act proposed rule; La República, 22 October 2026(all accessed 23 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief