Venezuela: Caracas Claims Sovereignty Over Its Oil Despite Agreement with Washington

Sunday 30 August 2026 - 09:33

While Donald Trump presents the agreement with Venezuela as a historic oil operation, Caracas seeks to clarify the scope of the arrangement. Interim President Delcy Rodriguez asserts that the country retains ownership of its resources, as American announcements regarding control over part of the reserves have raised questions.

The issue of oil once again lies at the heart of relations between Venezuela and the United States. Following Donald Trump's announcement of a vast agreement in the Venezuelan energy sector, Caracas has worked to clarify that its natural resources remain under national sovereignty.

Venezuela's interim president, Delcy Rodriguez, stated on Saturday that the agreement reached with Washington does not undermine the country's ownership of its oil resources.

Caracas Aims to Clear Up Ambiguities

In a televised address, Delcy Rodriguez emphasized a point she considers essential: Venezuela's ownership and sovereignty over its natural resources would be maintained.

This clarification comes on the heels of Donald Trump's statements. The American president had claimed that the United States would take control of 65 billion barrels from Venezuela's oil reserves, describing the operation as the "largest oil agreement in history."

These statements have immediately placed the issue of resource control at the center of discussions. However, available information on the specific terms of the agreement remains limited, leaving room for various interpretations.

American Investments in the Oil Sector

The agreement includes provisions for investments in Venezuela's oil industry. For Washington, the stakes are considerable given the importance of the country's reserves and the potential for revitalizing its energy sector.

For Caracas, the distinction between investments, exploitation, and ownership of resources appears crucial. The Venezuelan government thus intends to maintain the notion that American presence in the sector does not imply a transfer of sovereignty over natural resources.

This nuance is particularly important as the agreement comes amid a politically tense context between the two countries.

An Agreement Reached Under High American Pressure

The energy rapprochement occurs several months after Nicolas Maduro's capture by the American military, an event that profoundly altered the political situation in Venezuela.

Since then, Delcy Rodriguez has been serving as interim president in an environment marked by significant pressure from Washington. The conclusion of an oil agreement in this context thus gives the energy question a dimension that far exceeds mere economic stakes.

Oil is indeed one of Venezuela's main strategic wealth sources and represents a major lever in its relations with foreign powers.

Washington and Caracas Emphasize Different Issues

The statements from both parties reflect a difference in communication. Donald Trump emphasizes the economic and strategic scale of the operation, while Caracas highlights the preservation of its sovereignty.

The lack of public details on the full mechanisms outlined in the agreement further fuels questions about the concrete conditions for its implementation.

Upcoming steps will need to clarify the distribution of responsibilities, the modalities of American investments, and the conditions for the exploitation of the concerned resources.

Oil at the Center of the New Venezuelan Balance

Beyond the semantic battle surrounding the word "control," the agreement could profoundly alter the organization of Venezuela's oil sector.

For the United States, the goal is to secure access to a strategic resource while participating in the reconstruction of the country's energy industry. For Caracas, the challenge lies in attracting the necessary capital without giving the impression of relinquishing control over its natural wealth.

The clarification provided by Delcy Rodriguez thus marks a desire to set a red line: the opening of the sector to foreign investments should not, according to Caracas, be equated with a cession of sovereignty over oil.