US and Venezuela Sign 100-Year Oil Deal
Summary
The US and Venezuela have signed a 100-year oil agreement giving a US-led company rights to operate 17 Venezuelan oil fields. The deal has drawn praise from President Donald Trump and fierce criticism from opposition figures and former US officials over its terms and political implications.
Key Points
- A US-led company will gain rights to operate 17 Venezuelan oil fields for 100 years under the new agreement in Caracas.
- President Donald Trump called it the biggest oil deal in world history, while interim President Delcy Rodriguez described it as historic.
- Critics, including Elliott Abrams and Venezuelan opposition figures, say the deal gives away national wealth and resembles colonialism.
- Officials say the agreement could reshape global energy flows, but experts warn Venezuela’s oil sector may take years to recover.
