Ex-minister Ramírez slams oil deal, warns of Venezuela's resources being plundered

Rafael Ramírez, former president of Petróleos de Venezuela S.A. (Pdvsa) and ex-oil minister, has vehemently rejected a recent oil agreement between Venezuela's interim government and the United States. The pact reportedly places 65 billion barrels of the country's oil reserves under U.S. control.

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From Trump's point of view, it seems more effectively an electoral message because he has to face elections in November and around the world he has come out with his head in the clouds, except in Venezuela.

Ramírez asserted in an interview with El Nacional that the hurried signing of this agreement serves the political interests of U.S. President Donald Trump ahead of the November Senate elections. He believes Trump aims to showcase an achievement to his base, particularly as his foreign policy has faced challenges globally. "From Trump's point of view, it seems more effectively an electoral message because he has to face elections in November and around the world he has come out with his head in the clouds, except in Venezuela," Ramírez stated.

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It is an unconstitutional agreement, behind the country's back and harmful. They are handing over 65 billion barrels of our reserves to the United States. That has never happened in Venezuela and I think in any part of the world.

Describing the deal as "unconstitutional, behind the country's back, and harmful," Ramírez warned that it represents an unprecedented "plunder" by handing over 65 billion barrels of Venezuelan reserves to the United States. He argued that this action effectively annexes Venezuela as an integral part of the North American economy, given the centrality of oil to national sovereignty. "It is a plunder, none of that is convenient or acceptable," he reiterated.

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It is a plunder, none of that is convenient or acceptable.

Furthermore, Ramírez dismissed official claims of immediate positive economic impacts for the Venezuelan population. He labeled the assertion of short-term revenue gains as "a lie," explaining that the Orinoco Belt fields require complex technical work, time, and investment for results, which would only materialize in the medium term. He also highlighted that revenues from crude sales under these arrangements are not returning to Venezuela, citing over $15 billion from the sale of 222.7 million barrels as of July, which remain frozen in a U.S. Treasury account.

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a lie