"A deal giving the U.S. majority control of vast Venezuelan reserves strikes at the heart of national identity."
"Many Venezuelans suspected that there was going to be a price to pay for President Trump’s brazen capture of their autocratic leader, Nicolás Maduro, who was arrested by U.S. forces in January.
On Friday, that cost became clear when Mr. Trump announced that the U.S. would be taking majority control of a vast part of Venezuela’s oil reserves — national resources long considered by many in the country to be a birthright.
By Saturday, many Venezuelans were grappling with whether they were willing to pay that price. So far, the U.S. ouster of the autocrat has done little to change the country — Mr. Maduro’s successor, Delcy Rodríguez, remains in power, while millions of everyday Venezuelans remain in poverty, electricity blackouts continue to plague the nation and no date has been set for an election.
The new deal could bring major investment. But many Venezuelans want overall economic and political change. The accord guarantees neither and could deepen the relationship between Mr. Trump and Ms. Rodríguez, further entrenching her in power."
Julie Turkewitz reports for the New York Times August 29, 2026.
SEE ALSO:
"Trump Says He Has Secured A Vast U.S. Stake In Venezuelan Oil Industry" (Washington Post)
