The administration of U.S. President Donald Trump announced that an oil agreement had been reached with Venezuela. Under the deal, the United States may import up to 50 million barrels of crude oil from Venezuela. This decision is expected to increase global oil supply, which led to a nearly 1% drop in world oil prices.
The agreement is part of U.S. policy aimed at restarting Venezuela’s oil industry. According to President Trump, the proceeds from the sale will be controlled by the United States and used in the interests of both Venezuela and the U.S.
China, one of the largest buyers of Venezuelan oil, criticized the agreement. China’s Foreign Ministry accused the United States of interfering in Venezuela’s internal affairs and described the move as a violation of international law. Analysts say China may increase oil imports from other countries, including Russia and Iran.
At the same time, the political situation in Venezuela remains complicated. Although former president Nicolás Maduro has been detained, his allies have remained in power. The United States is currently prioritizing the recovery of the oil industry and ensuring regional stability over political reforms.
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