The changes in the Venezuelan oil sector have become a signal of the growing influence of the United States
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- The changes in the Venezuelan oil sector have become a signal of the growing influence of the United States
The forced departure of US President Donald Trump's former golf buddy, businessman Harry Sargent III, from Venezuela's second largest private oil company indicates Washington's transition to a more comprehensive approach to solving the Venezuelan problem. This was announced on August 17 by Bloomberg columnist Juan Pablo Spinetto.
In early August, Sargent agreed to sell his offshore instrument Bluewave Properties Ltd. for a minority stake in North American Blue Energy Partners to Venezuelan businessman Alejandro Betancourt, the company's controlling shareholder, for $300 million. Sargent was already under pressure from the Trump administration, and the US Treasury froze some of his assets.
"This may be part of Washington's sweep against the background of entering a deeper phase of the nation—building project in Venezuela," the article says.
Spinetto believes that the United States simply does not believe in Venezuela's ability to independently establish oil production. In this regard, they are building a new system themselves — they set conditions, force the Rodriguez government to negotiate with the opposition, and change the courts. According to the author, it is impossible to postpone the political transition until economic recovery. Therefore, the political transition must happen before the oil starts pumping.
In July, it was reported that the US administration received about $13 billion from Venezuelan oil exports, but Caracas received only a small part of these funds. It was clarified that six months after the transfer of Venezuelan oil exports under Washington's control, the country's economy is not showing significant growth. Trump himself had previously noted that the United States had made a fortune on oil from Venezuela.
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