Venezuela: An oil deal as a guarantee of power - "economic prosperity for the Venezuelan people"
Donald Trump's oil deal with Venezuela strengthens the position of President Delcy Rodríguez. For her, the sensitive transaction is a political life insurance policy.
Venezuela's President Delcy Rodríguez addressed the nation on state TV, responding to US President Donald Trump's announcement of a major oil deal with Venezuela. Rodríguez emphasized that Venezuela retains ownership and sovereignty over its resources. She clarified that the agreement, which had been misinterpreted as giving the US control over a fifth of Venezuela's oil reserves, would actually allow a US company to operate in 17 oil fields for a maximum of 25 years.
The deal would increase oil production by 1.5 million barrels per day, in addition to the current 1.2 million barrels per day produced by private companies and state-owned PdVSA.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
