Venezuela’s acting president, Delcy Rodríguez, has described a new deal as a step toward economic recovery that will modernize the country’s oil industry.
Under the terms of the agreement, $19 from every barrel of oil sold to the US will flow to Caracas. Rodriguez stated that the aim is to turn the country's underground resources into a source of social and economic well-being for the people of Venezuela.
Interim President Rodriguez further emphasized that the deal will preserve the country’s sovereignty over its natural resources. She noted that Venezuela will retain ownership of and sovereignty over these resources.