A Trump-backed agreement gives U.S. control over vast Venezuelan oil reserves and leaves opposition leaders balancing criticism of an authoritarian interim government with maintaining ties to Washington.
The U.S.-Venezuela agreement grants U.S. entities majority control of roughly 65 billion barrels of Venezuelan oil reserves.
Opposition leaders publicly criticize the interim government’s legitimacy but largely avoid rejecting the oil deal outright to preserve political relationships with the U.S.
Delcy Rodríguez, Venezuela’s acting president, is presented by Washington as a cooperative partner, despite low domestic approval after a poor earthquake response.
Last week the United States announced an oil agreement with Venezuela that effectively gives U.S. control of a large portion of the country's reserves. The deal covers about 65 billion barrels, a majority stake in Venezuelan oil assets according to the reporting.
Opposition politicians in Venezuela face a political bind. They criticize the interim government led by acting president Delcy Rodríguez as illegitimate because she was a close ally of Nicolás Maduro and supported actions that the opposition says included stealing the 2024 election and imprisoning political opponents. Despite those concerns, many opposition figures have stopped short of openly opposing the U.S. deal.
María Corina Machado, the main opposition leader and a presidential hopeful, has voiced deep worries about negotiations conducted by the interim government. She says economic recovery requires democratic institutions and an elected government, but she has been careful not to directly denounce the oil agreement, reflecting a desire to retain good relations with the Trump administration.
David Smilde, a scholar cited in the reporting, summarizes the calculation: opposition figures seeking power know that openly opposing the agreement could close off political opportunities under the current U.S. posture.
Despite principled objections to Rodríguez's legitimacy, nearly all opposition lawmakers in the National Assembly voted to approve the oil agreement. Some framed the move as a necessary economic opening that could bring investment and a path to recovery.
Critics point to concrete domestic indicators that complicate Rodríguez's standing. After a pair of earthquakes in June that killed more than 6,500 people, a survey by AtlasIntel put her approval at roughly 22 percent. Venezuelan economist Ricardo Hausmann told CNN the deal is "a great deal for her," arguing it helps Rodríguez stay in power by trading oil access for political support.
Critics have decried the opaque agreement as oligarchic and colonialist.
Opposition in Venezuela as interim leader insists the deal with Washington will help with the country's recovery.
Chevron's $7 billion Venezuela bet deepens U.S. ties to the country's oil industry. Critics say the deal poses risks to democracy and could fuel discontent over Washington's embrace of the government.
María Corina Machado says interim government does not have democratic mandate to negotiate natural resources The Venezuelan opposition leader, María Corina Machado, has questioned Donald Trump’s oil deal with Venezuela’s interim government, declaring that the country’s natural resources do not belong to “an illegitimat
Though the White House hails the deal as essential to U.S. energy security, it has triggered debate in Venezuela. The post Experts poke holes in landmark Venezuela oil deal hailed by Trump appeared first on Latin America Reports .
CARACAS — Venezuelan opposition figure Maria Corina Machado on Thursday called for a democratic transition in her country after the interim government struck a massive oil deal with the United States. The agreement grants U.S. access to more than 65 billion barrels — almost 20 percent — of oil in Venezuela, which holds
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