Watch: Why is the US-Venezuela oil deal so controversial?

The US-Venezuela oil deal has sparked controversy, and for good reason. The agreement, announced by President Donald Trump, gives the US control over more than 65 billion barrels of proven oil reserves in Venezuela. This is a significant development, considering Venezuela has the largest oil reserves in the world. The deal's implications extend beyond the energy sector, as it could have far-reaching consequences for the global economy, US foreign policy, and the Venezuelan people.

The controversy surrounding the deal stems from concerns about its potential impact on Venezuela's sovereignty and the country's already fragile economy. Venezuela has been facing a severe economic crisis, and the US sanctions imposed on the country have exacerbated the situation. Critics argue that the deal could further entrench US influence in Venezuela, undermining the country's ability to manage its own resources. Moreover, the deal raises questions about the Trump administration's motivations and the potential for US companies to benefit at the expense of the Venezuelan people.

As the situation unfolds, it's essential to watch how the deal affects US-Venezuela relations and the global energy landscape. The US Treasury Department has issued a license allowing Chevron to produce oil in Venezuela, which could be a sign of things to come. What's next to watch is how the Venezuelan government responds to the deal, and whether it will lead to increased tensions between the US and other countries in the region. Additionally, the impact on oil prices and the global economy will be closely monitored, as the world's reliance on fossil fuels continues to shape geopolitics and international relations.

Originally reported by bbc.co.uk. MyNews adds analysis for general news readers.