Venezuela’s Delcy Rodríguez defends ‘endless’ benefits of her oil deal with Trump

Venezuela’s interim president, former vice‑president Delcy Rodríguez, defended a controversial energy agreement with U.S. President Donald Trump that would give Washington control of roughly 65 billion barrels of Venezuelan crude, part of the country’s 303 billion‑barrel proven reserves. Speaking on a six‑minute televised address, Rodríguez asserted that Venezuela would retain ownership and sovereignty over its oil while the deal would generate more than $209 billion in revenue, boost daily production to over 1.5 million barrels from 17 strategic fields, and transform the nation into an “energy powerhouse.” Trump hailed the transaction as the “biggest oil deal in world history,” claiming it would more than double U.S. oil reserves and serve as a “gift” to the American people, while also warning Rodríguez that non‑compliance would incur a “very big price,” potentially greater than that faced by ousted President Nicolás Maduro.

The agreement, announced after months of secret negotiations and following Trump’s January‑3 raid that captured Maduro, has ignited fierce backlash across Venezuela’s political spectrum. Opposition figures, speaking anonymously, denounced the pact as a “massive land grab” by a “rapacious, mafioso United States,” and left‑wing protesters marched through Caracas with slogans rejecting colonial subjugation. Critics also mocked the state oil company PDVSA, suggesting it be renamed “PDUSA,” and highlighted the involvement of the Pentagon’s Office of Strategic Capital and a private firm owned by UK‑based tycoon Alejandro Betancourt, who has acted as a key intermediary. The deal marks a stark reversal for Rodríguez, whose father was a Marxist guerrilla and who has long railed against imperialist attempts to seize Venezuela’s resources; she now claims the arrangement safeguards national sovereignty while delivering essential investment, technology, and infrastructure.

Opposition leaders warn the deal could undermine efforts to restore democracy and hold credible elections, noting that Maduro’s 2024 vote was widely regarded as fraudulent and that both Trump and Rodríguez have hinted that Venezuela is “not really ready” for a democratic transition. Juan Pablo Guanipa, an opposition leader, argued on X that only a free election could ensure long‑term economic revitalization and equitable benefits from the oil partnership. Meanwhile, Rodríguez deflected questions about a future vote, suggesting it would occur “some day,” as the nation remains mired in authoritarian rule and one of the world’s deepest peacetime economic crises. The pact therefore not only reshapes Venezuela’s oil sector but also deepens its geopolitical entanglement with the United States, raising doubts about the country’s political trajectory and the real extent of the promised “endless” benefits.

⚡ Effects Interpreter