Trump is laughing happily, as the U.S. reaps substantial benefits from Venezuela! On August 29, according to a report by Lianhe Zaobao, Venezuela's acting president Rodríguez confirmed that Venezuela has reached a large-scale "oil cooperation agreement" with the United States. President Trump claimed this is "the largest oil transaction in world history." Under the agreement, Venezuela will allow private enterprises to participate in oil development, involving the exploitation of 17 strategic oil fields with investments exceeding $100 billion.
Just one day earlier, President Trump announced that the U.S. had reached an agreement with Venezuela granting it "majority control" over more than 65 billion barrels of proven oil reserves in Venezuela. Clearly, if arresting Maduro earlier this year was like removing a thorn in America’s eye and a splinter in its flesh, then this agreement now marks America formally harvesting the bountiful economic fruits from Venezuela.
Venezuela can indeed allow private enterprises to participate in oil development—legally, there are no exclusive barriers set against foreign investment. However, this major strategic oil cooperation actually opens the door almost exclusively to U.S. capital. Previously, Venezuela’s oil industry was state-controlled; now, opening up 17 core strategic oil fields effectively means handing over control to American capital. Does Venezuela have any bargaining power when facing the U.S.?
Even more astonishing is that Venezuela’s oil revenues are being managed through offshore U.S. accounts, with fund usage strictly constrained by the United States. Furthermore, reports indicate Venezuela is currently evaluating its potential exit from OPEC. If Venezuela exits, it would essentially forfeit its diplomatic leverage in collective oil pricing among producing nations. In a sense, Venezuela has already become an "economic colony" of the U.S., and its current leadership is essentially a U.S.-backed agent serving American interests.
Original source: toutiao.com/article/1874840214045067/
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