Delcy Rodríguez, head of Venezuela's interim government, has spoken out in defense of the controversial energy deal with US President Donald Trump, asserting that the South American nation maintains ownership and sovereignty over its vast oil reserves.
Speaking on television on Saturday, Rodríguez argued the agreement delivers "endless" benefits, helping Venezuela grow its economy, generate over $209 billion, and become an "energy powerhouse." She emphasized: "Our country has the world's largest oil reserves. But having resources underground is not enough. We need investment, technology, infrastructure, and production capacity to turn this wealth into welfare for our people."
Under the deal announced on Friday, the US would gain control over 65 billion barrels of Venezuela's oil. Trump called it "the biggest oil deal in world history" and said he would use Venezuelan oil to fill the US Strategic Petroleum Reserve.
However, the agreement has sparked anger domestically, from both the opposition and the Chavismo political movement of which Rodríguez is a member. A notable opposition figure, speaking anonymously, called it a "large-scale land grab" by "greedy, mafia-style America." Rafael Ramírez, former head of state oil company PDVSA, accused Rodríguez's government of "stabbing the Fatherland in the heart" with this "neo-colonial" transaction.
On Saturday, dozens of left-wing protesters marched through the capital Caracas with banners reading: "We are not a colony, nor a backyard" and "Americans go home!" On social media, many mocked the deal by suggesting renaming the state oil company from PDVSA to "PDUSA."
The deal marks a striking shift for Rodríguez and the socialist, anti-imperialist political movement she and Maduro inherited from the late President Hugo Chávez. In a 2024 speech, she criticized the opposition for seeking to hand over the country's oil, gas, and gold reserves to "bosses" in Washington.
The deal is expected to involve the Pentagon's Strategic Capital Office and a private company owned by Alejandro Betancourt, a Venezuelan-born billionaire living in the UK, seen as a key intermediary between the Trump administration and Rodríguez.
Opposition politicians fear the deal will hinder efforts to restore democracy and hold new presidential elections in Venezuela. Juan Pablo Guanipa, an opposition leader, wrote on social media platform X that the only way to truly revive Venezuela's economy in the long term is through free elections leading to a representative government with transparent institutions. He warned that without that, the energy deal would be like "a skyscraper built on clay."
