WORLD · VERIFIED DEVELOPMENT
US Faces Backlash Over Reported Stake in Venezuelan Oil and Gas
WHY IT MATTERS
The potential US stake in Venezuela's energy reserves could have significant economic and political consequences for the country, with critics warning of a loss of sovereignty and control over its natural resources.
What happened
Critics in Venezuela have strongly opposed reports that the US is seeking a significant share of the country's vast energy reserves. The move has been described as 'predatory' and 'unconstitutional' by those who view it as a land grab.
The US has been involved in Venezuela's affairs since the Trump administration's intervention in January, which led to the removal of President Nicolás Maduro.
Several media outlets have reported that the US aims to secure long-term access to Venezuela's oil and gasfields.
PRIMARY SOURCES
Venezuelan opposition up in arms over reports US wants big stake in oil and gas
The Guardian · Tom Phillips Latin America correspondent · Discovery only; Guardian content licensing terms apply