U.S.-Venezuela oil deal puts opposition in a political bind

Venezuelan opposition members are uneasy with new oil deals with the U.S., worried that agreements with authoritarian regime in Caracas could undermine democratic progress.

SCOTT SIMON, HOST: The blockbuster oil deal between the United States and Venezuela that was announced last week has opposition leaders in Venezuela treading a fine line. They fear the agreement could help Venezuela's authoritarian regime stay in power, but opposing it could anger the Trump administration, which in effect now calls the shots in Venezuela. For more, here's reporter John Otis. JOHN OTIS, BYLINE: The agreement would give the U.S. government majority control over 65 billion barrels of Venezuelan oil reserves. (SOUNDBITE OF ARCHIVED RECORDING) DELCY RODRIGUEZ: (Speaking Spanish). OTIS: At a Caracas news conference on Wednesday, Venezuela's acting president, Delcy Rodriguez, said the agreement could bring badly needed foreign investment to the country's ailing oil industry. But many Venezuelans view Rodriguez as an illegitimate president. Until her predecessor, Nicolás Maduro, was captured by the U.S. military in January, she had served as his loyal vice president. Rodriguez fully supported Maduro's repressive tactics, including his stealing of the 2024 presidential election. Today, her government holds more than 300 political prisoners. (SOUNDBITE OF ARCHIVED RECORDING) MARÍA CORINA MACHADO: (Speaking Spanish). OTIS: Citing such authoritarian behavior, María Corina Machado, Venezuela's main opposition leader, says she has profound concerns about the oil deal. (SOUNDBITE OF ARCHIVED RECORDING) MACHADO: (Speaking Spanish). OTIS: "Economic development is impossible without solid institutions and a government elected by the people," Machado said in a video posted on social media. However, Machado, who wants to be Venezuela's next president, was careful not to criticize the oil agreement itself. She covets good relations with the Trump administration, which following the removal of Maduro, oversees Venezuela as a vassal state. DAVID SMILDE: Nobody really who is aiming for political power has come out against this agreement. OTIS: That's David Smilde, a Venezuela scholar at Tulane University. SMILDE: They all know that doing so would basically mean they have no political possibility in the next coming years under Trump. (SOUNDBITE OF ARCHIVED RECORDING) UNIDENTIFIED PERSON: (Speaking Spanish). OTIS: In fact, nearly all of the opposition lawmakers in Venezuela's National Assembly voted this week to approve the oil agreement. They include Congressman Antonio Ecarri. (SOUNDBITE OF ARCHIVED RECORDING) ANTONIO ECARRI: (Speaking Spanish). OTIS: "I want democracy," he says, "but it will come hand in hand with an economic opening and American capital." But Trump's actions and words make clear he prefers dealing with the compliant Rodriguez rather than a freely elected president who might be more independent. Speaking at the White House this week, Trump brushed off calls for elections in Venezuela. (SOUNDBITE OF ARCHIVED RECORDING) PRESIDENT DONALD TRUMP: I just don't think they're ready yet. You know, it's very new. We took them out of a dictatorship, and we're getting along great with the government. Delcy, as you know, is doing a very, very good job, very highly respected. OTIS: Polls say otherwise. After Rodriguez botched the response to twin earthquakes in June that killed more than 6,500 people, one survey by AtlasIntel put her job approval rating at just 22%. Yet the oil agreement should keep her in Trump's good graces, said Venezuelan economist Ricardo Hausmann, who spoke to CNN. (SOUNDBITE OF ARCHIVED RECORDING) RICARDO HAUSMANN: This is a great deal for her. She gives away the oil, and she gets to stay in power. OTIS: Rodriguez's envoys are holding discussions with the opposition on a democratic transition, but critics claim the acting president is slow-walking the talks and may try to serve out Maduro's term that ends in 2030. (SOUNDBITE OF ARCHIVED RECORDING) RODRIGUEZ: (Speaking Spanish). OTIS: When pressed by journalists at Wednesday's news conference, Rodriguez said Venezuela will hold presidential elections, but she refused to say when. For NPR News, I'm John Otis. Copyright © 2026 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information. Accuracy and availability of NPR transcripts may vary. Transcript text may be revised to correct errors or match updates to audio. Audio on npr.org may be edited after its original broadcast or publication. The authoritative record of NPR’s programming is the audio record.

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