Venezuela’s interim president Delcy Rodríguez has defended her administration’s controversial energy agreement with the United States, insisting the South American nation will maintain sovereign ownership over its vast petroleum reserves. According to reporting by The Guardian, Rodríguez addressed the public on television to push back against intense criticism of the pact, which US President Donald Trump has termed the largest oil deal in world history.
Economic Projections and Sovereignty Claims
During a six-minute broadcast, Rodríguez stated that the energy pact would generate revenues more than $209bn (£154bn) and help modernize Venezuela’s infrastructure. According to The Guardian, she emphasized that subterranean wealth is insufficient without foreign investment and production capacity, noting the country requires technology and infrastructure to translate resources into national development. The interim president assumed power following a special forces raid in Caracas on January 3, during which former president Nicolás Maduro was removed.
Strategic Reserves and Production Targets
The agreement targets 17 strategic oilfields with the goal of producing more than 1.5m barrels per day, according to The Guardian. US President Donald Trump stated on Truth Social that the arrangement will help refill the nearly emptied US Strategic National Reserves, describing the arrangement as a gift from Venezuela to the United States. While exact terms of the agreement remain sparse following months of secret negotiations, reporting indicates Washington will take control of 65bn barrels of Venezuela’s estimated 303bn barrels of proven crude reserves.
Domestic and Political Backlash
The energy agreement has triggered sharp opposition from both domestic political figures and international observers. According to The Guardian, one prominent opposition figure, who asked not to be named, characterized the arrangement as a massive land grab by the United States. Meanwhile, left-wing protesters marched through Caracas carrying banners rejecting colonial control, and Rafael Ramírez, the former head of state-owned oil company PDVSA, publicly criticized the administration on X and in an interview with El Nacional for compromising national sovereignty.
Related reading