U.S.-Venezuela Oil Deal Criticized for Undermining Democracy
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The Economist criticizes Trump's oil deal with Venezuela, arguing it blocks the transition to democracy. The deal, announced by Trump, involves a joint venture with a Venezuelan oil magnate and aims to replenish the U.S. Strategic Petroleum Reserve. Critics argue that the deal resembles an opaque privatization of Venezuela's oil wealth, may thwart democratic emergence, and could create a class of elites interested in blocking democratic transition. The deal also clarifies Venezuela's status as a U.S. protectorate, with the U.S. expecting compliance from the Venezuelan government.
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