U.S. defends Venezuela oil deal as necessary for democratic elections

The United States says its new oil agreement with Venezuela is not separate from the goal of democratic elections, but a condition for making them possible.

A senior U.S. official, speaking by telephone and on condition of anonymity, linked Venezuela’s political transition to rebuilding its economy, particularly its oil industry. The official said Washington wants a future democratically elected government to inherit a country that is stabilized and functioning rather than broken.

The agreement would allow Venezuela to reinvest oil revenues in modernizing the industry, something the official said did not happen under the governments of Hugo Chávez and Nicolás Maduro. The official also said free elections, which have no scheduled date, should serve as the culmination of efforts to stabilize the country.

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We want a new government of Venezuela, a democratically elected government of the republic, to inherit not a broken country, but a country that has at least been stabilized and is functioning.

Holding an election next week, the official argued, would still mean using mechanisms established under Chávez. Venezuela therefore needs a new electoral authority, a free press and stronger political parties. The official cited Nicaragua as a warning, saying the country returned to Sandinismo 16 years later through elections because the necessary safeguards had not been put in place.

The agreement announced the previous week would give the United States access to nearly one-fifth of Venezuela’s oil reserves. Critics have questioned whether the Trump administration is truly seeking a democratic transition. The U.S. official said the deal would also align a major oil producer with Washington rather than China or Russia, and prevent Caracas from giving or selling crude at discounted prices to those powers.

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One of the most important things is to ensure that the country is not limited to one or two elections, but becomes a stable democracy, a stable republic that can hold elections repeatedly.