Venezuela asserts control over oil revenues amid US cooperation

Jorge Rodríguez, President of the Venezuelan National Assembly, has affirmed that Venezuela maintains absolute control over all revenues generated from its oil sales. Addressing claims that foreign entities or the United States manage these funds, Rodríguez stated that the government decides how to utilize the money in accordance with the national Constitution.

Rodríguez characterized the current energy cooperation with the United States as one of the most significant oil agreements signed in the last 100 years, noting that it benefits both nations by increasing hydrocarbon extraction and fiscal income. He emphasized that the country has signed 71 strategic agreements with international companies for oil exploration and commercialization, with 44 additional operational agreements currently being finalized.

To counter unilateral coercive measures, Rodríguez noted that Venezuela has developed alternative mechanisms to receive oil payments directly into the national treasury through authorized banking institutions, rejecting the idea of third-party management or external trusts.