Venezuela emphasizes sovereignty over oil resources despite US agreement

As part of the planned oil deal with the USA, Venezuelan interim President Delcy Rodríguez has emphasized Venezuela's control over its oil resources. "One thing must be absolutely clear: Venezuela retains ownership and sovereignty over its resources," said Rodríguez.

The agreement with the US will provide Venezuela with capital and the technology "to support the revival of a strategic industry that has been hit hard by the sanctions," she said. Cooperation with Washington will result in investments, in production, in prosperity and "in tangible results for the Venezuelans," said Rodríguez. The interim president governs under US influence.

This Friday, US President Donald Trump announced the oil agreement. This gives the USA majority control over 65 billion barrels of Venezuelan oil reserves. Little further detail has been revealed, leading to speculation about a possible disadvantage for Venezuela.