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Venezuela Reaffirms Sovereign Control of Oil Revenue as Deals Advance (www.telesurenglish.net)
submitted 9 hours ago by to c/news@hexbear.net
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“No foreign agency or international financial entity administers or safeguards the public funds that enter the country from hydrocarbon sales,” National Assembly President Jorge Rodriguez said.

Rodríguez detailed that the money enters the public treasury under the supervision of authorized national banks, and he ruled out any external trust or any management of accounts by third parties outside the country’s institutions. In this sense, he called autonomy over foreign currency “a non-negotiable principle” for the country’s macroeconomic stability.

71 agreements are currently in force, while another 44 contracts are being negotiated. For the government, that volume confirms an operational momentum geared toward diversifying investment across the country’s main extraction fields.

The National Assembly President presented this dynamism as the result of a deliberate push to reopen the sector to international capital without surrendering control. Over the past several years, sweeping financial measures limited Venezuela’s ability to sell crude, collect payments and maintain production infrastructure. The current wave of deals represents a step-by-step return to commercial activity.

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[–] 3 points 2 hours ago

ProPublica - The Secret Terms of Trump’s Venezuelan Oil Deal

Alejandro Betancourt, a 46-year-old Venezuelan energy baron, is the key figure in a historic oil deal with the Trump administration. Venezuelan opposition leaders and U.S. congressional Democrats have criticized the agreement because Betancourt has been the target of investigations of alleged corruption. 

I could copy paste half the article but it basically says the US and Betancourt is in control. Venezuela is not in control. Betancourt developed some favorability Rodriguez despite Betancourt's large support of the gusanos.

Article snips

The agreement does ensure the United States a deep discount from fair-market value on 20% of NABEP’s oil, as Trump has said. It does not, however, explicitly guarantee that Betancourt’s company is obligated to pay the estimated $200 billion in royalties and tax payments to Venezuela that the White House has said would benefit the country. 

 the event of a dispute, Venezuela can’t challenge the deal in its own courts. The agreement dictates that any conflict between the company and the United States must be settled under U.S. law, not Venezuela’s. The two sides even spelled out that any civil case or arbitration must be argued before the United States District Court for the Northern District of Texas, where Trump’s Justice Department has turned, time and again, for favorable rulings. 

Where U.S. law does not apply, Texas state law governs, the agreement states. 

A Pentagon office has been tasked with someday executing the financial transaction to capitalize on the U.S. government’s 35% share in the venture. The document shows that the U.S. will pay nothing upfront but plans to acquire its stake in Betancourt’s company by paying $0.01 per warrant share. Those terms are set to expire on the 75th anniversary of the closing date.

....

Betancourt had developed a good relationship with Rodríguez, whom Trump had backed as the country’s interim president. And Betancourt had done so despite the fact that her influential brother, National Assembly President Jorge Rodríguez, had accused him of corruption in a televised speech in 2020, according to former U.S. officials and press reports. ...

In a recent interview with Spanish language media, Rubio defended Betancourt, praising his oil company’s work in Venezuela and his support for factions of the Venezuelan opposition in exile.

...

Betancourt was accompanied by Jacob Hirshman, the chief executive and co-founder of Erebor Bank, the first new bank chartered after Trump returned to office, according to people familiar with the meeting. The bank, backed by Trump supporters and investors Peter Thiel and Palmer Luckey, has vowed to reconnect Venezuela to the world economy

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