Venezuela’s Delcy Rodríguez says oil deal with Trump has ‘endless’ benefits

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Published: 2026-08-30T15:36:16.838Z • Permanent link

Delcy Rodríguez, the interim president of Venezuela, has sparked controversy with her country's highly contentious oil deal with US President Donald Trump. According to reports, the deal will see the US take control of 65 billion barrels of Venezuela's oil reserves, sparking outrage among Venezuelans who see it as an attempt by the Trump administration to exert control over their country's natural resources.

Rodríguez defended her government's decision, stating that the deal would bring "endless benefits" for both countries. The agreement was reportedly reached during a meeting between Rodríguez and Trump at the White House, with the two leaders discussing various economic and energy cooperation initiatives. Venezuelan officials claim that the deal will help stabilize the country's economy, which has been in crisis for years due to international sanctions and a severe shortage of foreign currency.

US officials have confirmed the deal, stating that it is a significant step towards strengthening economic ties between the two countries. The agreement is expected to be ratified by the US Senate and Congress, with proponents arguing that it will provide much-needed revenue for Venezuela's struggling economy.

The implications of this deal are far-reaching, with significant consequences for Venezuela's oil industry and its impact on global energy markets. Companies that rely on Venezuelan oil, such as ExxonMobil and Chevron, are likely to be affected, as well as research communities and markets that track the country's energy production and exports. The deal also raises questions about the role of foreign powers in Venezuela's economic affairs, and whether the country's sovereignty is being eroded.

The agreement has sparked concerns among human rights groups and opposition leaders in Venezuela, who see it as an attempt by the Trump administration to exert control over the country's oil resources and further destabilize the already fragile economy. The deal has also raised questions about the impact on the country's relations with other countries, particularly those in the region, which are already wary of US intervention.

Venezuela's oil industry has been a key player in the country's economy for decades, providing a significant source of revenue for the government. However, the industry has been plagued by corruption, mismanagement, and underinvestment, leading to a decline in production and exports. The crisis in Venezuela's oil sector has had far-reaching consequences, including widespread shortages of food, medicine, and other essential goods.