Prosecutors in Spain and Switzerland investigated Venezuelan oilman Alejandro Betancourt for money laundering. Britain arrested him less than a year ago, barring him from traveling abroad. However, as part of the Trump administration's takeover of Venezuela's oil industry, the U.S. is forming an extraordinary partnership with Betancourt.

Under the arrangement, the Pentagon could seek a large stake in his company. Secretary of State Marco Rubio advocated for Betancourt, arguing he had the experience to increase Venezuelan production. Officials from the State and Justice Departments intervened in the Swiss investigation to persuade them not to proceed with extradition.

They also asked Britain to ease travel restrictions, allowing Betancourt to travel to Venezuela and the U.S. to meet with Trump officials. Eventually, Britain agreed. Under the deal, a financing office within the Pentagon plans to partner with Betancourt's company, North American Blue Energy Partners (NABEP), which is being granted 100-year concessions to operate 17 oil fields in Venezuela.

These fields hold estimated reserves of 65 billion barrels. Rafael Ramírez, a former Venezuelan energy minister, called the arrangement "grotesque" and "unsustainable," arguing it was done in secret with an illegitimate government. Sara Chouraqui, a spokeswoman for Betancourt, rejected the criticism, stating the deal revitalizes Venezuela's economic potential for all Venezuelans, not just one political party.