Machado says Venezuela needs 'more than money' after US oil deal
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 the largest proven reserves in the world. Celebrating the "historic" pact on…
Caracas — Venezuelan opposition leader Maria Corina Machado has called for a democratic transition in her nation following the interim government's recent massive oil deal with the United States. The agreement, which grants the U.S. access to more than 65 billion barrels of Venezuela's oil reserves — nearly 20 percent of its total — was celebrated by both U.S. President Donald Trump and interim Venezuelan leader Delcy Rodriguez.
However, Machado, a Nobel Peace Prize laureate, emphasized that genuine development necessitates a democratic transition. The oil sector is merely one aspect of the extensive reconstruction required in Venezuela, she stated in a video message. The South American country needs vast investments, she added, but it requires far more than mere financial support.
"No development is possible without solid institutions and a government elected by popular vote," Machado stressed. The deal emerges as U.S. Republicans prepare for potential electoral losses in November due to rising fuel costs.
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- Machado says Venezuela needs 'more than money' after US oil deal koreatimes.co.kr
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