Venezuela Investors Face Legal Minefield as US Calibrates Stance

Investors who want to take part in the White House’s plans to revitalize Venezuela’s oil-based economy are at risk of stepping into a political and legal minefield over diplomatic recognition.

Acting President Delcy Rodríguez is not officially recognized by the US and other countries as Venezuela’s rightful authority. Instead, that distinction still belongs — at least on paper — to members of the opposition-led legislature who were elected more than a decade ago.

This recognition status, seemingly at odds with President Donald Trump’s full-throated endorsement of Rodríguez, means that companies would face off in US court against lawyers working ...