New Oil Agreement Between the US and Venezuela Draws Criticism
The new oil agreement signed between the US and Venezuela, covering 65 billion barrels of crude oil, has drawn severe criticism from both economists and socialist circles.
The new oil agreement between the US and Venezuela has caused great disappointment among political and economic circles in the country while also confusing analysts. The agreement grants concessions on 65 billion barrels of crude oil to US-led companies.
Content of the Agreement and Reactions
US President Donald Trump and interim Venezuelan President Delcy Rodríguez announced the new oil agreement as a success. The agreement grants a US-led company concession rights over approximately 65 billion barrels of crude oil.
Severe Criticism from Economists
Venezuelan economist Ricardo Hausmann reacted to the decision by addressing US Secretary of State Marco Rubio on social media. Hausmann stated that instead of restoring constitutional order and democracy, the US made an agreement with an illegitimate government.
Democracy and Election Uncertainty
The lack of any plan or prediction regarding an upcoming election in the country is considered a great betrayal by opposition groups.
Capitulation Accusation from the Socialist Wing
Although the ruling socialist party PSUV supports the agreement, many Venezuelan socialists view this situation as a capitulation. Circles that have opposed Washington's influence in the region for about thirty years argue that the country's most valuable asset has been handed over to the US.
Assessment by Former Minister Ramírez
Rafael Ramírez, former head of the state energy firm PDVSA and former oil minister, stated that the agreement opens the country's doors to a new US colonialism. Ramírez recalled the fields nationalized in the past during the era of Hugo Chávez.