In Venezuela, Trump Vowed to Show Accountability. But Secret Oil Deals Linger.
The New York Times • • general
Key Points:
- U.S. and Venezuelan officials have pledged increased accountability for Venezuela’s oil industry following the fall of President Nicolás Maduro, with the U.S. planning to control oil sales and require Venezuela to submit monthly budgets.
- The Trump administration has hired auditors to verify oil revenue receipts, and Venezuela’s new leader, Delcy Rodríguez, announced a website to allow public tracking of oil revenues.
- Despite these measures, there remains significant uncertainty about where Venezuela’s oil money is actually going, raising doubts about the political will in both Washington and Caracas.
- Venezuela’s oil industry is deeply corrupt and opaque due to decades of exploitation, with reports indicating that up to half of the oil revenue was stolen earlier this decade.
- Efforts to bring transparency face major challenges given the entrenched corruption and past failures by officials like Rodríguez to reform the national economy.
