These overtures fall under the new cooperation agenda ushered in since January 3. But in this context, cooperation becomes a “relative term” because the Rodríguez administration “has very little choice” in the matter, according to Daniel DePetris, a fellow at Defense Priorities.
“Washington now effectively controls Venezuela’s oil revenue and decides how, when and where it will be allocated. Caracas simply cannot afford to ignore Washington, let alone defy it, because doing so would jeopardize much of its national budget and further strain an economy that is as vulnerable today as it was when Nicolás Maduro was in power,” DePetris told Drop Site.
This dynamic is ultimately one-sided, DePetris explained. “The Trump administration will continue to use control over Venezuela’s oil revenue as a pressure tactic, both to reward the Venezuelan government when it complies with U.S. demands and to punish it when those demands aren’t met.”
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