Since the U.S. sanctions on several Venezuelan state-owned companies became effective in 2019 and after the Anti-Blockade Law was passed in 2020, the national government has tried different formulas to divest assets. Despite the fact that many negotiations have been made in an opaque context, the follow-up carried out by Transparencia Venezuela has helped identify 48 state-owned companies that have been transferred to private sector entrepreneurs. Private Allies in Control of State-owned Companies 2024 reveals that this strategy aims to negotiate state-owned companies that have failed, but still offer potential profitability. These include those in the food sector that provide the government’s social programs; those engaged in the extraction and processing of minerals, especially gold; and those in the hydrocarbons sector, among others.

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