The US has reached a deal with Venezuela's interim government to take a stake in the country's oil resources, with approximately 65 billion barrels of estimated reserves. The deal, announced by President Trump, would give the US part ownership of fields containing 90 billion barrels' worth of proven crude deposits, more than doubling US reserves. Energy Secretary Chris Wright has stated that the agreement will help lower gas prices in a year or two, but critics argue that it benefits the US at the expense of Venezuela's struggling economy and democratic future.
Venezuela's opposition leader María Corina Machado has rejected the deal, calling it "illegitimate" and saying that the country's natural resources do not belong to an "illegitimate regime". She argued that the interim government, led by Delcy Rodríguez, lacks legitimacy to negotiate Venezuela's oil assets.
The deal has been met with skepticism by energy experts, who question its potential impact on gas prices. Meanwhile, Trump has boasted about the deal, saying that Venezuelan oil has already paid for the war "many times over". The agreement has also raised concerns about the US prioritizing oil profits over democratic principles in Venezuela.
the president openly brags that Venezuelan oil has already paid for the war “many times over”
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