U.S. Imperialism Advances: Washington Eyes Control of Venezuelan Oil Fields
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U.S. officials are close to striking a deal that would hand over Venezuela’s vast oil reserves—about 90 billion barrels—to American interests, deepening the legacy of resource exploitation in Latin America.
According to sources familiar with the negotiations, U.S. officials told Axios that an impending agreement would grant the United States ownership or long-term access to Venezuelan oil fields containing approximately 90 billion barrels of proven reserves. This move, orchestrated by the State Department, included a visit to Venezuela last month to dictate terms, with talks reportedly occurring at the highest echelons of both governments.
The arrangement, as reported, could involve leasing and subsequent auctions or tenders that would allocate Venezuela’s national resources to U.S. producers, continuing a long history of foreign plunder. The White House, State Department, and Venezuelan authorities have refused to answer questions about this neocolonial maneuver.
Since the U.S. forcibly seized control of Venezuelan oil sales after the January raid that saw former president Nicolás Maduro brought to the United States, the Trump administration has boasted of collecting over $13 billion from those sales. Secretary of State Marco Rubio stated that the revenue is being audited by KPMG and held in a Citibank account, raising questions about transparency and sovereignty. Temporary sanctions relief has been granted, conveniently allowing U.S. corporations and individuals to profit from Venezuela’s oil sector while the country’s people continue to suffer.