US-Led Venture Secures Access to 65 Billion Barrels of Venezuelan Oil

The Trump administration has signed a deal giving a US-led venture access to 65 billion barrels of Venezuelan oil. The agreement could reshape the economic relationship between the two countries, but questions remain over its political durability and potential backlash inside Venezuela.

According to Victoria Coates, former Deputy National Security Advisor for Middle East Affairs and Heritage Foundation expert, the deal could encourage US investment and restore Venezuela's energy sector. However, she emphasizes that economic development must be accompanied by political liberalization and self-determination.