Venezuela asserts sovereignty after US oil agreement

Interim President Juan Rodríguez announced that a new oil‑sales agreement with the United States will direct $19 from every barrel sold to Caracas. The move, part of a broader strategy to secure foreign revenue amid economic sanctions, is intended to bolster the nation’s strained finances and support public services.

Under the terms, the U.S. will purchase Venezuelan crude at market‑adjusted rates, with the stipulated allocation earmarked for the central government. Analysts note that the arrangement could provide a much-needed fiscal lifeline, though it also raises questions about compliance with international sanctions and the potential impact on domestic oil production capacity. The deal’s implementation will be closely monitored by both Venezuelan officials and U.S. regulators.