Trump’s oil deal riles both sides of Venezuelan political divide
One potential advantage for Venezuela's acting president is if a deal with the U.S. hems in the Trump administration's incentive to press for swift elections.
U.S. President Donald Trump (L) and Venezuelan acting President Delcy Rodríguez (R). One potential advantage for Rodríguez in agreeing to grant the U.S. exclusive access to the country’s oil is that the deal could push the Trump administration to urge swift elections and help cement her grip on power. | AFP-JIJI
BLOOMBERG
Aug 30, 2026
Venezuelan hard-liners and opposition forces alike criticized acting President Delcy Rodríguez for agreeing to grant the U.S. exclusive access to the country’s valuable oil resources. She may be betting that the deal with Donald Trump is her ticket to a tighter grip on power.
One potential advantage for Rodríguez is if the deal to give the U.S. majority control over 65 billion barrels of Venezuelan crude hems in the Trump administration’s incentive to press for swift elections.
“I think it can benefit Delcy to the extent that it reinforces Trump’s commitment to working with her and thus probably diminishes incentives to move quickly to a new vote,” said Risa Grais-Targow, Latin America director at Eurasia Group. That “is precisely why the opposition is so upset,” she said.
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