Venezuela clarified that it maintains "control and ownership" of oil after the agreement with the United States to explore a fifth of the South American country's crude reserves, the largest in the world. "The control and ownership of the underground resources unquestionably remain with Venezuela," assured the Minister of Hydrocarbons, Paula Henao, in an interview with private channel Venevisión on Sunday.
On August 28, the President of the United States, Donald Trump, stated that the agreement would allow American companies access to vast Venezuelan oil reserves. The agreement generated divergent interpretations about the degree of control the USA would obtain over the country's energy resources. Venezuela sought to clarify that it did not cede sovereignty over its natural resources.
Paula Henao reiterated Venezuela's position that the underground resources remain under state control, attempting to quell internal concerns about the scope of the agreement with Washington. This issue arises in a context of prolonged diplomatic tensions between the two countries and sanctions imposed by the USA against Venezuela.
