Trump Venezuela Oil Deal Draws Criticism From Government Allies, Opposition
Key Takeaways
- •The agreement would give the United States majority control over 65 billion barrels of Venezuelan crude.
- •Venezuela’s opposition says it was excluded from the negotiations, including opposition leader María Corina Machado.
- •Hard-line Chavismo supporters have criticized the deal as potentially illegal and as a surrender of national sovereignty.
- •Rodríguez has said the projects could generate $209 billion in taxes, while one analyst calculated that as about $3.20 per barrel.
- •The backlash is adding pressure to Rodríguez as she works to strengthen ties with Washington and faces weaker domestic support.
Trump Venezuela Oil Deal Draws Criticism From Government Allies, Opposition
in Oil & Companies News 31/08/2026
U.S. President Donald Trump’s oil agreement with Venezuela is drawing criticism from both hard-line supporters of the country’s government and opposition forces, putting acting President Delcy Rodríguez under growing political pressure, Bloomberg reported.
The agreement would give the U.S. majority control over 65 billion barrels of Venezuelan crude, a scale that underscores how much leverage the deal could create around one of the world’s largest oil reserves and why it has become a political flashpoint in Caracas.
Risa Grais-Targow, Latin America director at Eurasia Group, said the arrangement could reinforce Trump’s commitment to working with Rodríguez and reduce incentives for Washington to push quickly for new elections.
That prospect has angered Venezuela’s opposition, which was not involved in negotiating the agreement. Opposition leader María Corina Machado did not participate in the discussions, according to people familiar with the matter.
Rodríguez is also facing criticism from supporters of Chavismo, the movement founded by former President Hugo Chávez and built partly around state control of Venezuela’s oil resources. Some hard-line supporters have questioned the deal’s legality and accused the government of surrendering national sovereignty.
The backlash comes as Rodríguez attempts to strengthen ties with Washington. Recent negotiations have produced other concessions, including initial approval by Venezuela’s National Assembly of a U.S.-backed overhaul of the process for selecting Supreme Court justices.
Political analyst Benigno Alarcón said increased U.S. investment could eventually give Washington an economic interest in preserving stability under Rodríguez rather than pursuing a rapid political transition.
Questions have also emerged over the deal’s financial terms. Rodríguez has said projects covered by the agreement could generate $209 billion in taxes.
Francisco Monaldi of Rice University’s Baker Institute calculated that figure at roughly $3.20 for each of the 65 billion barrels covered, and said the lack of transparency surrounding Venezuela’s oil policy was concerning.
The political controversy comes as Rodríguez’s popularity has weakened following criticism of the government’s response to deadly earthquakes in June, adding to the pressure on a leadership already trying to balance domestic resistance with renewed engagement with Washington.
Source: Investing.com
