US Secretary of State Marco Rubio has defended Washington’s oil agreement in Venezuela as an alternative to Chinese and Russian involvement, pushing back against criticism from opposition leader Maria Corina Machado.
Speaking to reporters on Monday, Rubio said most of the oilfields controlled by the company partnering with Washington had previously been held or operated by Chinese or Russian firms. He argued that the agreement would help revive production while securing US access to reserves in a crisis.
The arrangement centres on a US-backed energy company granted 100-year concessions covering 17 Venezuelan oilfields with about 65 billion barrels of proven reserves, including fields previously operated by Chinese and Russian firms.