Why are people calling Venezuela oil deal a new form of US colonialism?
Summary
A large oil deal between the United States and Venezuela has raised concerns because it reportedly gives the US control over 20% of Venezuela’s oil reserves for many years. Critics say this deal happened without Venezuela’s government agreeing to it, leading to accusations of a new form of colonialism.Key Facts
- The United States signed a multi-billion-dollar oil deal involving Venezuela.
- The deal gives the US control over 20% of Venezuela’s oil reserves.
- This control is expected to last for many decades.
- Venezuela’s legislature did not approve the deal.
- Critics describe the deal as a modern form of colonialism, meaning the US is seen as taking control of Venezuela’s resources unfairly.
- The information was reported and explained by Al Jazeera journalist Nour Hegazy.
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