United States Takes Control of Venezuelan Oil Reserves

The United States government has taken control of a significant portion of Venezuela's oil reserves and exports. This action follows the overthrow of Venezuela's previous leader in January 2026. In August, the administration of Donald Trump announced a partnership with a Venezuelan oil magnate to secure access to 65 billion barrels of oil.

Interim President Delcy Rodríguez expressed support for the plan, although she operates under heavy U.S. influence. The takeover represents a fundamental shift away from Chavismo, which previously mandated absolute state control over oil as a cornerstone of national identity.

The move has divided the Venezuelan population. Some citizens and opposition figures welcome the intervention as a necessary measure to revive an economy devastated by hyperinflation and mismanagement. Conversely, critics describe the takeover as an act of "unlimited pillage" and a total loss of national sovereignty.