Trump Venezuela Oil Deal Draws Criticism From Government Allies, Opposition

U.S. President Donald Trump's oil agreement with Venezuela is facing criticism from both supporters of the government and the opposition, putting acting President Delcy Rodríguez under pressure. The deal would grant the U.S. majority control over 65 billion barrels of Venezuelan crude, potentially increasing Washington's economic interest in Rodríguez staying in power.

Risa Grais-Targow, Latin America director at Eurasia Group, stated that the arrangement may strengthen Trump's commitment to working with Rodríguez and reduce incentives for Washington to push for new elections. Opposition leader María Corina Machado was not part of the negotiations, causing anger among Venezuela's opposition. Rodríguez also faces criticism from Chavismo supporters, who question the deal's legality and accuse the government of ceding national sovereignty.

This backlash occurs as Rodríguez tries to improve relations with Washington. Recent negotiations have resulted in other concessions, such as the National Assembly's initial approval of a U.S.-backed plan to reform the process for selecting Supreme Court justices. Political analyst Benigno Alarcón believes that increased U.S. investment could eventually make Washington financially interested in maintaining stability under Rodríguez instead of pushing for a swift political transition.

Transparency concerns have arisen over the deal's financial terms, with Rodríguez estimating that projects covered by the agreement could generate $209 billion in taxes, while Francisco Monaldi of Rice University's Baker Institute calculated the value at about $3.20 per barrel. The controversy coincides with a decline in Rodríguez's popularity due to criticism of the government's response to deadly earthquakes in June.