July 31 - Mauricio Claver-Carone, a Miami businessman widely credited with wielding outsized influence over U.S. strategy toward Venezuela, has stepped away from day-to-day oversight of a U.S. portfolio that has guided both political engagement and commercial opportunities in the OPEC nation.
Claver-Carone, who has no formal government title, told U.S. officials that he is no longer managing Venezuela-related matters. He has been described by current and former U.S. government officials and business sources in Venezuela as operating in a role akin to a viceroy - a private citizen exercising broad authority over policy and deal-making. In that informal capacity he reported to Secretary of State Marco Rubio, who has driven the administration's Venezuela policy.
Officials say Claver-Carone became one of the most influential individuals shaping U.S. engagement with Venezuela following an operation on January 3 that led to the capture of President Nicolas Maduro. Though he has consistently presented his involvement as advisory, his fingerprints can be seen across decisions with potential multibillion-dollar financial consequences, from negotiating terms for restructuring roughly $200 billion of Venezuelan debt to influencing the allocation of commercial oil contracts.
Scope of influence and major engagements
During his tenure, Claver-Carone played a central role in securing a direct contract for the U.S. firm Centerview Partners to lead a debt restructuring effort. That engagement was awarded without competitive bidding and was reported to be worth more than $150 million to Centerview, with the larger restructuring task involving about $200 billion of Venezuelan liabilities.
He also facilitated dialogue between Venezuela's new leadership and opposition figures. Sources close to the situation say he helped arrange talks scheduled for August 1 between the Venezuelan government and opposition leaders, and he participated in deliberations over oil contracts in Caracas, including instances where companies were granted potentially lucrative business.
Members of the U.S. government say those behind-the-scenes interventions, many conducted while Claver-Carone served briefly as a Special Envoy for Latin America early in the second term, formed a major strand of the administration's approach to post-Maduro Venezuela. That approach has placed the United States in a prominent role in shaping the future of Venezuela's energy sector while not prioritizing comprehensive political reforms or near-term democratic elections, according to accounts provided by officials and sources involved.
Departure and internal reactions
Claver-Carone described his departure as voluntary, saying he was "retired on Venezuela." Multiple people familiar with the matter, however, told officials that he was forced out in recent weeks. The State Department declined to characterize him as holding any formal role and reiterated that he is a private citizen with regional contacts who does not currently have an official position in the administration.
Within the administration and among investors, reactions to Claver-Carone's active role have been mixed. Supporters framed him as an effective operator capable of advancing a complex agenda at the intersection of geopolitics and commerce. Others, including some Trump allies, raised concerns about a private citizen directing a broad effort that allowed U.S. companies to pursue assets in Venezuela, noting potential conflicts given his control of a private equity fund.
Claver-Carone has repeatedly denied that he or his fund hold financial stakes in Venezuela. Nevertheless, his intervention in business dealings in Caracas reportedly provoked unease in parts of the State Department and among some investors.
Concerns about intermediaries and political connections
Critics privately argued that Claver-Carone was too close to certain Venezuelan political operators. One notable intermediary was Alejandro Betancourt, a high-profile Venezuelan businessman whose fortune was built on contracts linked to the oil and electrical sectors during the presidency of Hugo Chavez. Betancourt has faced years of scrutiny and investigations related to corruption and money laundering in multiple jurisdictions, including the United States, allegations he has denied.
Claver-Carone acknowledged that he and others in the U.S. government had used Betancourt as a bridge to Delcy Rodriguez's government - Rodriguez being the former vice president who replaced Maduro and who reportedly worked closely with Claver-Carone and proved more amenable to U.S. calls for opening Venezuela to commercial engagement.
Neither Betancourt nor his attorney provided comment when approached. The State Department did not directly address the relationship between Claver-Carone and Betancourt.
Background on Claver-Carone and remaining decision-makers
Claver-Carone, a Cuban American based in south Florida and a longtime ally of Secretary of State Marco Rubio, previously led the Inter-American Development Bank during the first Trump administration before his own departure from that role amid claims of misconduct. In the earlier administration he was a prominent architect of U.S. policy toward Venezuela, including advocating for sanctions in 2019, and he helped shape a rollback of prior U.S. rapprochement with Cuba.
He briefly held the title of Special Envoy for Latin America in the second term before stepping away from government work and launching a private equity fund.
How far his exit will change Washington's posture toward commercial activity in Venezuela is not yet clear. Internal State Department materials reviewed by officials indicate that Caleb Orr, the Assistant Secretary of State for Economic, Energy, and Business Affairs, who multiple sources say had been coordinating closely with Claver-Carone, will continue to be a principal decision-maker on the team handling Venezuela affairs.
Context for markets and stakeholders
Claver-Carone's departure arrives against the backdrop of U.S. efforts to reshape control and investment in Venezuela's energy sector and a contested process over who will direct negotiations, contracts, and restructuring decisions. The scale of the financial engagements and the concentration of influence in an informal adviser have prompted questions about transparency, procurement, and the potential economic outcomes for companies and investors engaging in Venezuela.
For market participants, the immediate implications depend on how Washington reallocates authority within the interagency team responsible for Venezuela and whether the same approaches to awarding contracts and facilitating deals persist without Claver-Carone's direct involvement.