Venezuela’s Delcy Rodríguez defends ‘endless’ benefits of her oil deal with Trump
Guardian AU Business
•Sun, 30 Aug 2026 15:08:33 GMT
📰 What Happened
Venezuela's interim president, Delcy Rodríguez, defended her government's energy deal with Donald Trump in a six-minute television broadcast on Saturday, insisting Venezuela maintains ownership and sovereignty over its massive oil reserves and claiming the deal would help it earn revenues of more than $209bn and become 'an energy powerhouse'. The deal, which Trump has called 'the biggest oil deal in world history', is reported to give the US control of some 65 billion barrels of Venezuelan oil and has provoked outrage across the country.
🔍 The Backstory
Rodríguez assumed power in January after Trump ordered the abduction of President Nicolás Maduro during a special forces raid on the capital, Caracas. The former vice-president argued the deal was needed because having resources underground is not enough without investment, technology and production capacity.
🎯 Why It Matters
The deal would put one of the world's largest oil reserves under US influence, carrying enormous geopolitical and financial stakes for global energy markets. It is deeply sensitive politically in Venezuela, where critics see the terms as handing national resources to Washington.
Venezuela's interim president, Delcy Rodríguez, defended her government's energy deal with Donald Trump in a six-minute television broadcast on Saturday, insisting Venezuela maintains ownership and sovereignty over its massive oil reserves and claiming the deal would help it earn revenues of more than $209bn and become 'an energy powerhouse'. The deal, which Trump has called 'the biggest oil deal in world history', is reported to give the US control of some 65 billion barrels of Venezuelan oil and has provoked outrage across the country.
Rodríguez assumed power in January after Trump ordered the abduction of President Nicolás Maduro during a special forces raid on the capital, Caracas. The former vice-president argued the deal was needed because having resources underground is not enough without investment, technology and production capacity.
The deal would put one of the world's largest oil reserves under US influence, carrying enormous geopolitical and financial stakes for global energy markets. It is deeply sensitive politically in Venezuela, where critics see the terms as handing national resources to Washington.