Sourced fact
The News
According to France 24, US President Donald Trump announced "the biggest oil deal in world history" – a new deal with Venezuela for "65 billion barrels of oil". Washington is rumored to be working in partnership with controversial Venezuelan oil tycoon Alejandro Betancourt, who made his fortune under the Chavista regime.
Analysis & context
Analysis & Context
Analytically, this oil deal represents a strategically significant move for the United States to bolster its oil supplies. Venezuela is rich in oil, but the ongoing economic and political crisis has impacted its production capacity. In a broader context, Venezuela faces significant challenges in improving its oil production and bolstering its economy, making this cooperation with the United States controversial yet of great importance.
