Nov 6, 2026 · 28 min
U.S. backs opaque oil politics after Maduro’s removal
Trump’s Venezuelan oil grift
The episode asks whether Washington is enabling another kleptocratic arrangement instead of building the transparent institutions Venezuela needs for democratic change.
- 1U.S. support for Delcy Rodríguez has sidelined María Corina Machado and left Venezuela without a clear election timetable.
- 2A Pentagon-linked oil arrangement involving Alejandro Betancourt has intensified Venezuelan fears that corruption is replacing democratic accountability.
- 3Even American oil companies need legitimate government, functioning courts, and transparent rules before investing safely in Venezuela.
Don't miss
Anne Applebaum characterizes the U.S.–Venezuela relationship as a coalition of two kleptocracies rather than a genuine democratic partnership.
The brief
After Nicolás Maduro’s removal, Washington promised a democratic transition in Venezuela. The episode instead finds opaque political arrangements, uncertain leadership, and oil deals dominating the country’s future.
Anne Applebaum explains how U.S. support for Delcy Rodríguez sidelined María Corina Machado, whose return could pressure both Venezuela’s regime and Washington to accelerate elections.
The episode follows Venezuela’s oil money into a New York bank account with little public accounting, while major U.S. companies hesitate to invest amid legal and political uncertainty.
Donald Trump’s announced oil arrangement involving the Pentagon, Venezuelan interests, and businessman Alejandro Betancourt becomes the episode’s sharpest test of whether corruption is replacing reform.
Applebaum argues that Venezuelans increasingly see the relationship as a coalition of two kleptocracies, making grassroots democratic organizing—not U.S. rescue—the path forward.
Books & mentions
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