Axios: Trump Entrusted Venezuela's Oil To A Mysterious Billionaire

• 1.09.2026, 15:25

The entrepreneur's story reads like a political thriller.

U.S. President Donald Trump’s historic oil deal with Venezuela turned out to be linked to a figure whose life story reads more like a political thriller. A 46-year-old Venezuelan entrepreneur, Alejandro Betancourt, heads a company that is now preparing an unprecedented partnership with the Pentagon, according to Axios (translation by Charter97.org).

“Without Betancur, there would be no energy security deal,” a U.S. official told Axios. According to the official, it was the entrepreneur who played a key role in the political processes that ultimately led to the removal of Nicolás Maduro.

Betancourt had been cooperating with U.S. authorities as early as Trump’s first presidential term. In 2019, he acted as a mediator between the Venezuelan opposition, the military, and politicians who supported Juan Guaidó. He later traveled to Moscow with a message from the Guaidó government calling for an end to support for Maduro.
After the failure of the attempt to change the government, Betancourt left the country. However, in 2023, he was invited back, as he was considered an expert in reviving the oil industry.
Now his company, North American Blue Energy Partners, will gain access to 17 oil fields. The U.S. is not making any investments but will receive a 35% stake and 20% of the oil produced, after taxes, at cost.

At the same time, the businessman is dogged by a string of investigations. In the U.S. and Switzerland, he was linked to a case involving the laundering of $1.2 billion, though Betancourt was never formally charged.

Experts doubt that the agreement will quickly lower gasoline prices. In Venezuela itself, it is already being criticized as a corrupt deal among the elite. The businessman’s lawyer insists: “He is exceptionally well-suited for this historic moment.”