Oil and politics: What Trump’s ‘historic’ deal means for Venezuela

Since the last century, Venezuelan politics has been closely linked to the management of the country’s oil industry.

The debate for policymakers has centred on whether to liberalise or nationalise the sector, with the latter being the preferred option for the past 27 years.

Over time, a kind of “resource nationalism” has been instilled in the national psyche by the current governing party ...