Venezuela Defends Sovereignty After Trump Oil Control Claim Arabian Post

(MENAFN- The Arabian Post) clearfix"> Venezuela has insisted that its new 25-year energy agreement with the United States preserves state ownership of the country's oil reserves, sharpening scrutiny of President Donald Trump's claim that Washington has secured majority control over more than 65 billion barrels of Venezuelan crude.

Interim President Delcy Rodríguez said the accord covers the development of 17 strategic oilfields and targets production of more than 1.5 million barrels a day, while eight additional greenfield blocks are planned under a wider expansion. She said the contractual structure safeguards Venezuela's sovereignty over its natural resources.

That distinction is central because Venezuela's constitution does not permit its oil deposits to be transferred into foreign ownership. Article 12 states that mineral and hydrocarbon deposits within national territory, territorial waters, the exclusive economic zone and continental shelf belong to the republic, form part of the public domain and are inalienable and non-transferable.

MENAFN31082026000152002308ID1111599647