Caracas (AFP) – Venezuelan opposition leader and Nobel Peace Prize winner Maria Corina Machado, reacting to the "historic" oil deal concluded between her country and the United States, said Thursday that Venezuela "needs more than money" and that a "democratic" government is needed.

Published on: 09/03/2026 - 5:51 p.m.

On Friday, eight months after the capture of Nicolas Maduro by the American army, Donald Trump announced the conclusion of an agreement with Venezuela that would see the United States take majority control of more than 65 billion barrels of the country's oil reserves.

Venezuela estimates that it will gain $209 billion over 25 years.

On Wednesday, in the wake of this agreement with Washington, the Venezuelan government signed contracts with the oil companies Chevron and Eni to expand their activities in the country, as well as with GE Vernova to restore the electricity industry.

“The oil sector is only part of the immense reconstruction that we must undertake in Venezuela. It requires colossal investments, but it needs much more than money,” said Ms. Machado, in a statement on social networks, about the agreement allowing the United States to control around a fifth of her country's oil reserves.

“Venezuelans know that there is no development possible without solid institutions and a government elected by popular vote. This is the only and true guarantee of success and stability for any large-scale investment,” continued Ms. Machado, who lives in exile in Panama.

"I know what you (Venezuelans) feel: sadness, anger and this unease so recurrent in our history, because someone decides what belongs to us (...) We do not yet know the true scope of this agreement: who signs? What are we really signing? Who puts in the money? Who provides the guarantees?" asks Ms. Machado.

But she also shows concern for preserving the United States.

“The enemies of the United States”

“The heritage of our subsoil does not belong to an ILLEGITIME REGIME, it belongs to the Venezuelan people. Of course, the United States is the main partner that Venezuela needs to fully develop its strategic value,” she assured.

“The enemies of the United States in Venezuela are today in Miraflores” (Venezuelan presidential palace, Editor’s note), she said.

“Because this association between Venezuela and the United States is of a strategic nature for both countries, we all need THINGS TO BE DONE RIGHT (...) All this requires sustained work based on non-negotiable principles of absolute transparency, legality and efficiency. And this is only possible with the legitimacy and stability offered by a serious and democratic government,” she insists.

President Trump has repeatedly expressed his satisfaction with the work of interim President Delcy Rodriguez, who came to power after the capture of Nicolas Maduro by American forces in early January.

The leader notably reformed the laws on oil and mining to open these sectors to private capital, particularly foreign capital, and negotiated the oil agreement with Washington.

Although American authorities deny it, many observers believe that there is an American veto on the return of Ms. Machado, who has indicated her intention to return "soon" to her country.

On Wednesday, Mr. Trump once again considered that Venezuela was “not yet ready” for elections.

Since August, Washington has been supervising negotiations between the government and part of the opposition. The first round of talks notably led to a promise of judicial reform.

The next phase of these transition discussions “will take place in approximately 10 days,” said the head of American diplomacy Marco Rubio on Fox News on Wednesday.

Ms. Machado, who was not invited to these negotiations, made it clear that she would not hinder them. While some opponents believe that Dinorah Figuera, the head of the opposition delegation, is not legitimate, a source close to the delegation emphasizes that it recognizes Ms. Machado as "leader of the Venezuelan opposition, the voice that Venezuelans identify as their own voice."

Mr. Maduro, prosecuted and imprisoned in New York for drug trafficking, asked the American justice system to dismiss the indictment against him, arguing his immunity as a foreign head of state.

© 2026 AFP

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