US Oil Deal With Venezuela: 65 Billion Barrels at Stake

The Trump administration has approved a deal granting a US-led venture access to 65 billion barrels of Venezuelan oil, a move that could reshape economic ties between the two countries. But the agreement faces questions over its long-term political durability and the risk of backlash inside Venezuela. Victoria Coates, former Deputy National Security Advisor for Middle East Affairs and now with the Heritage Foundation, discussed the deal on Bloomberg This Weekend. She argued the pact could encourage US investment and help restore Venezuela’s struggling energy sector. However, Coates stressed that economic development must be paired with political liberalization and self-determination. Without those steps, she said, the deal’s benefits may not hold.