WASHINGTON — President Trump has finalized a deal to develop Venezuela’s oil resources, which the White House states will help the country recover from economic collapse and create conditions for future elections. The agreement is supported by acting President Delcy Rodríguez, who is associated with the Nicolás Maduro government that the U.S. considers illegitimate. This arrangement raises questions about the potential for a more entrenched government without democratic elections.
In January, following the U.S. military's capture of Maduro, Trump did not specify a timeline for a democratic transition but described Rodríguez as “gracious” and willing to cooperate. When asked about the lack of a firm election date, Trump stated, “I just don’t think they are ready yet,” while asserting that elections would occur “soon.”
The deal involves the U.S. partnering with an oil producer to establish North American Blue Energy Partners, which will develop 17 oil fields with an estimated 65 billion barrels of potential. NABEP will hold rights to these fields for 100 years.
Many Venezuelans express frustration over the delay in elections, particularly given the deal that grants the U.S. majority control over a significant portion of the country’s oil reserves. Carlos Pérez, a 23-year-old student, remarked on the perceived broken promise regarding elections, stating, “They tell us we have to wait two years, maybe more, while in the meantime they do business with a government that wasn’t elected.”
Antonio Marchetti, a 45-year-old plumber, acknowledged the removal of Maduro as positive but criticized the oil deal for appearing to support an entrenched dictatorship. He expressed disappointment that Trump’s actions seem to contradict the expectation of elections.
In Washington, some Republican lawmakers have praised the oil deal while labeling Rodríguez as an “interim dictator.” María Corina Machado, an exiled opposition leader, raised concerns about the implications of the deal with an illegitimate government, emphasizing the need for strong institutions and elected leadership for successful investment.
Trump administration officials have described the deal as an economic lifeline that will stabilize Venezuela and prepare it for free elections. Secretary of State Marco Rubio indicated that the U.S. is facilitating discussions between Venezuela’s interim government and opposition figures.
Rodríguez did not provide a firm election date but assured that an electoral process would occur. Critics, including former Trump administration officials, argue that the absence of a timeline allows Rodríguez to govern indefinitely, potentially undermining democratic efforts.
Some Republican lawmakers continue to advocate for elections in Venezuela, asserting that democracy is essential for prosperity. Senator Ted Cruz suggested elections should occur rapidly, while Senator Rick Scott is collaborating with Trump and Rubio to ensure fair elections.
In the Lake Maracaibo region, which would benefit from the oil deal, local oil worker Junior Araujo views the agreement as a chance for economic revival, despite ongoing frustrations with the government. He highlighted the dire economic conditions faced by Venezuelans.
Nazareth Lezama, a teacher, sees the deal as an opportunity but remains skeptical about the current government’s negotiation capabilities. Marchetti expressed his decision to emigrate due to the hopelessness in Venezuela, stating, “With all the pain in my heart, I will leave everything behind.”
Ana Ceballos reported from Washington, and special correspondent Mogollón reported from Caracas.