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🇻🇪 Venezuela /Economy & Trade

Venezuela’s Communist Party rejects oil agreement with the United States

From El Nacional · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Venezuela’s Communist Party rejected a Caracas-Washington oil agreement that aims to raise production above 1.5 million barrels per day.
  • The party accused the authorities of surrendering national assets without transparency and said the deal would give the United States growing control over Venezuelan resources.
  • The agreement reportedly gives Washington control of more than 20% of Venezuela’s crude reserves and covers 17 strategic fields.

Venezuela’s Communist Party has categorically rejected the oil agreement reached by Caracas and Washington, calling it a surrender of national wealth carried out by what it described as the country’s de facto authorities.

The PCV categorically rejects the new and serious surrender of national wealth carried out by the illegitimate and illegal triumvirate that de facto exercises power in Venezuela.

— Venezuela’s Communist PartyThe party condemned the agreement and criticized the authorities overseeing it.

The PCV, which has been intervened by Venezuela’s Supreme Court and has distanced itself from Chavismo, said the agreements were made “behind the backs of the Venezuelan people, without transparency and outside constitutional controls.” The party also does not align itself with the opposition led by María Corina Machado.

The party said the deal was not a minor agreement or a simple commercial transaction. “We are witnessing the surrender of a significant portion of the country’s main wealth under conditions that the country does not know,” it said. The PCV questioned whether the arrangement was based on equality and mutual respect, arguing that U.S. policy sought to advance Washington’s energy, economic and strategic interests through increasing control over Venezuelan resources.

Behind the backs of the Venezuelan people, without transparency and outside constitutional controls.

— Venezuela’s Communist PartyThe party described how it believed the agreements had been concluded.

The party condemned what it called “savage dispossession,” saying technocratic language had been used to give the alleged looting of national assets a false appearance of rationality and legality. It reaffirmed its commitment to national sovereignty, democratic rights and the interests of workers and the Venezuelan people.

We are witnessing the surrender of a significant portion of the country’s main wealth under conditions that the country does not know.

— Venezuela’s Communist PartyThe party argued that the deal exposed a major national resource to undisclosed terms.

The United States and Venezuela announced the agreement on Friday. Under the deal, Washington will control more than 20% of Venezuela’s oil reserves. Acting President Delcy Rodríguez said the plan covered 17 strategic fields with proven potential of 65 billion barrels. At an assumed price of $65 per barrel, she said Venezuela could receive $209.335 billion under the agreement.

Savage dispossession.

— Venezuela’s Communist PartyThe party’s description of the agreement and its presentation through technocratic language.
About this summary

Originally published by El Nacional in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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