Venezuela cedes 20% of oil reserves to US firm in JV, sparking sovereignty fears

Venezuela has signed a joint venture with a US company that transfers a fifth of its oil reserves, a move aimed at revitalizing the industry but widely seen domestically as a surrender of national patrimony. The deal's terms and the identity of the US partner remain unclear, and it marks a significant shift in Venezuela's state-centric oil policy. This could signal a pragmatic opening to foreign investment amid economic crisis, but risks political backlash and questions over long-term control.