Critics Call US-Venezuela Oil Deal Modern-Day Colonialism

Analysis & Context

Analytically, this oil deal between Venezuela and the United States is part of broader tensions between the two countries. Venezuela, which boasts the largest oil reserves in the world, has seen severe political and economic deterioration in recent years. In a wider context, these tensions point to the long-term impact of American policy in South America, where external interventions are viewed as new forms of colonialism.