Delcy Rodríguez, Venezuela’s interim president, is standing by a contentious energy deal with the United States, asserting the country’s continued control over its oil reserves despite significant domestic criticism. Rodríguez, who ascended to her role earlier this year following Nicolás Maduro’s removal in a US-led operation, addressed the Venezuelan public to refute claims that she is compromising national resources for the benefit of Washington. She highlighted the agreement’s potential to deliver over $209 billion in revenues, aiming to position Venezuela as a leading energy producer. The interim president emphasized that without necessary investment, technology, and infrastructure, the vast oil reserves beneath the country would remain untapped and unable to catalyze economic growth for its citizens.
According to reports, the agreement, which was negotiated behind closed doors over several months, grants the United States significant control over a large portion of Venezuela’s crude reserves. These reserves are the largest proven in the world, surpassing even those of Saudi Arabia and Iran. Rodríguez noted that the deal encompasses 17 key oilfields, with a production goal exceeding 1.5 million barrels per day. This development has sparked considerable opposition from both political adversaries and some within Rodríguez’s own faction. Critics have labeled the deal as a plunder of resources, with a former state oil official condemning it as a breach of national sovereignty and highlighting that no similar transfer of reserves has occurred in Venezuela’s past. Demonstrators took to the streets of Caracas, denouncing what they see as foreign intrusion, while social media commentators mocked the agreement, suggesting a new name for the state oil company.
This move signifies a significant policy reversal for Rodríguez and her political associates, who have traditionally opposed foreign domination over Venezuela’s natural assets. Rodríguez herself has previously issued public warnings against such arrangements. The backlash underscores the tension between historical positions and current economic strategies.
Opposition figures have voiced worries that the deal could jeopardize the push to reestablish democratic processes in Venezuela, with uncertainties lingering about the timing of forthcoming elections. Detractors contend that enduring economic improvements hinge on transparent governance and fair elections, cautioning that without these elements, the agreement’s foundation could be precarious.