The amnesty law, approved last week in Venezuela by the National Assembly, will serve to strengthen peace and reconciliation in the country, according to interim president Delcy Rodríguez.

The official stated: “Reconciliation must be a two-way street; don’t miss this opportunity. We are extending our hand to you, and we hope that with political maturity we will know how to face this new challenge.”

The Parliament unanimously approved the amnesty law in its first reading. The next stages are expected to proceed quickly to benefit “political prisoners since 1999, a period that coincides with the beginning of the current government.”

Rodríguez referred to the amnesty law as a new challenge for the nation and asserted that they are willing to work for the common good of all citizens. Regarding the initial discussion of the bill, he described it as a “high-level” process and emphasized the importance of maintaining open debate and political engagement among Venezuelans.

Regarding whom would benefit, the document “recognizes that people of various political affiliations, and even citizens without party affiliation, were subjected to criminal proceedings for acts related to the exercise of civic rights or political demonstrations. The amnesty would cover crimes such as incitement, resistance to authority, rebellion, treason, and illegal possession of weapons, provided they occurred in the context of protests between 1999 and 2026, including mobilizations such as those recorded in 2007, 2014, 2017, 2019, and 2024.”

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Last Thursday, January 22, the Venezuelan Parliament approved in its first reading the Draft Partial Reform of the Organic Hydrocarbons Law.

According to the country’s National Assembly, “the draft maintains the status of an organic law, but proposes relevant changes aimed at modernizing the oil model.”

Although the draft was approved, it must still undergo a public consultation phase. After that process, it moves to a second discussion, conducted article by article, before being approved and enacted before formally entering into force.

Parliament made it clear that the main objective of the reform is to “modernize the legal framework for the oil sector to adapt it to the new economic reality and changes in the international energy market,” focusing on creating conditions that will allow for “an accelerated increase in crude oil production.”

Furthermore, the sector seeks to incentivize foreign investment in strategic projects, as well as “incorporate more flexible business models, taking as a reference mechanisms linked to the Constitutional Anti-Blockade Law.”

The National Assembly made it clear that redefining the role of the State within the operational structure of the oil sector is fundamental.

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The National Assembly of Venezuela approved in its first reading a bill to withdraw the country’s accession to the Rome Statute, the founding instrument of the International Criminal Court (ICC).

The decision, which must undergo a second legislative review before being approved and published in the Official Gazette, “aims for the withdrawal of the South American country from this global tribunal.”

Ruling party deputy Roy Daza stated during the presentation of the bill that there is “a biased position on the part of the International Criminal Court, and that is why we are proposing to this Assembly the withdrawal of this instrument.”

As background, it is important to remember that the South American country ratified the Rome Statute in June 2000. “The ICC exercises jurisdiction over crimes committed in the territory of Venezuela or by its nationals on or after July 1, 2002.”

If Venezuela wishes to withdraw from the Rome Statute, “it must inform the Secretary-General of the United Nations, and the withdrawal takes effect one year after receipt of the notification. Announcing the withdrawal, however, does not release the country from its obligations under the treaty.”

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South Korea’s bill for the creation of a stablecoin backed by the won, the country’s currency, could be ready in October.

According to local media outlet MoneyToday on Monday, August 18, “the Financial Services Commission (FSC) will unveil the bill as part of the second phase of the country’s Virtual Asset User Protection Act.”

In this regard, Representative Park Min-kyu of the Democratic Party of Korea (DPK) noted that the FSC issued a report “on the policy direction for stablecoins” and the government bill is expected to be submitted to the National Assembly in October.

This legal instrument should establish “the requirements for issuance, collateral management, and internal control systems for stablecoins.”

The Asian country is also seeking to reduce dependence on dollar-pegged stablecoins by issuing a won-backed stablecoin. The idea has been in the works since 2023. Recently, “several lawmakers have since submitted related proposals, including the Digital Asset Basic Law by Representative Min Byung-deok of the Democratic Party, the Act on the Issuance and Circulation of Stable Value Digital Assets by Representative Ahn Do-gul of the Planning and Finance Committee, and the Payment Innovation Act Using Value-Pegged Digital Assets by Representative Kim Eun-hye of the People’s Power Party.”

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The elections this Sunday, May 25, in Venezuela will allow citizens to vote for 569 positions, including 285 deputies to Parliament, 24 governors, and 260 regional legislators.

The National Electoral Council will oversee the civic conduct of this electoral process, with a voter registry of 21,485,000 citizens eligible to vote.

Through the Republic Plan, 412,887 military personnel will be mobilized to guard the voting centers and electoral materials, “with the goal of ensuring the peaceful conduct of the process. For its part, the state-owned electricity company Corpoelec will deploy 15,664 workers to ensure the electricity supply during election day.”

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In view of the electoral processes that must be carried out this 2025 in Venezuela, the National Electoral Council announced that it will remain in permanent session to analyze the proposals for dates for these elections.

In this sense, a delegation from the “Special Commission for the Review of the Electoral Laws and Norms of the National Assembly” went to the CNE on Friday, January 17 to meet with the rectors of the organization, in addition to delivering “a set of proposals” for dates.

The CNE will study the proposals to establish “a first approximation to electoral schedules for the 9 or 10 elections this year,” according to deputy Jorge Rodríguez.

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The National Assembly of Venezuela ratified Tarek William Saab as Attorney General of the Republic on Thursday, October 31, for a new seven-year term.

Saab assumed office for the first time in August 2017. With his reelection, he will remain at the head of this portfolio until 2031.

Likewise, the Venezuelan Parliament also ratified Alfredo Ruíz before the Ombudsman’s Office and appointed Gustavo Vizcaíno, previously in charge of the Administrative Service of Identification, Migration and Immigration (Saime), as the new Comptroller General.

According to the AN, the election of Saab, Ruíz and Vizcaíno was in the hands of a commission appointed by the president of the organization, Jorge Rodríguez.

It is important to note that the positions were voted on by a qualified majority once they were submitted to the Full Chamber. Saab, Ruíz and Vizcaíno thanked the AN for the appointment and ratified their commitment to form a high-level Citizen Power.

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Venezuela is heading towards a diversified economic model with the recent approval of the Non-Petroleum Export Promotion Law last Wednesday, July 17.

The country’s economy has depended on hydrocarbons for decades. However, the government of Nicolás Maduro seeks to direct the South American nation towards new sources of exports.

The main purpose is for Venezuela to stop depending on oil, a key energy source worldwide.

The Non-Oil Export Promotion Law will lay the foundations for the promotion of measures to simplify “all the procedures necessary or related to the export of non-oil goods and services” as well as “to bring exporters the necessary information about the development of the process” that will be in the hands of the Ministries of Economy and Finance, and Foreign Trade.

According to statements by Deputy Nicolás Maduro Guerra, said law provides that “in 60 days a procedure can be carried out through the Single Window for Foreign Trade (VUCE).”

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With the approval of the Pension Law by the National Assembly of Venezuela, private companies are analyzing whether the new fee they must contribute will disrupt the possible salary increases planned for this year.

The new Pension Law came into effect on Friday, May 10, according to Official Gazette No. 6,806. In its article 7 it establishes that “private legal entities, domiciled or not in the country, must make a special contribution that will be up to 15 % of the total payments made to workers, for salary and bonuses. non-salary character.”

Financial analysts consider that the payment imposed on companies could force a restructuring of the incentives they had planned for the coming months.

In the opinion of Héctor Orochena, a graduate in Fiscal Sciences: “Legal regulations can affect the salary increases that the private sector has planned for this year. The law establishes that this special contribution be paid, taking into account anything paid to the worker, whether salary or not. For example, if the company pays for the school fees of workers’ children or provides a school bonus, it may now reconsider not paying it. Employers will take this law into account to determine the vacation and year-end bonuses, remunerations that have no impact on the salary, but are now included in the tax base.”

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During the celebration events on May 1, Nicolás Maduro presented the proposal for a bill to benefit pensioners, which was later approved in the first discussion by the National Assembly.

The bill contains 13 articles that establish a contribution by companies to the pension fund, with the aim of improving the income that elderly people receive in Venezuela.

The vice president of the country, Delcy Rodríguez, presented the content of the document before the Assembly, and it was presented by deputy Oswaldo Vera. Rodríguez explained that the project “has a very specific objective, which is the special contribution of private business to increase the pensions of older adults in the face of the criminal blockade of the United States.”

The regulations, which are expected to be approved today, Tuesday during the ordinary meeting of Parliament, establishes a contribution by the business community to recover the pensions of Venezuelans.

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