U.S. officials are defending their controversial partnership with Venezuelan businessman Alejandro Betancourt to gain significant control over Venezuelan oil fields. The Pentagon's Office of Strategic Capital is acquiring a 35% equity stake in Betancourt's company, North American Blue Energy Partners, granting the U.S. preferential access to oil output. Officials acknowledge the inherent complexities of international dealings, stating that effective diplomacy often requires working with existing circumstances. They have vetted Betancourt, describing him as a proven operator despite his past controversies. Betancourt's past involvement in a money-laundering scheme, from which he was not charged, and his prior assistance to the U.S. government make him a key figure in this strategic oil deal. U.S. intervention reportedly helped resolve a Swiss extradition case against Betancourt, allowing the deal to proceed. Critics question the legality and potential neocolonial nature of the agreement, drawing parallels to historical foreign control of oil resources. However, U.S. officials maintain the deal will bring necessary expertise to Venezuela's oil sector and counter the influence of adversaries like Russia and China in the hemisphere. They argue it supports Venezuela's democratic transition by promoting economic stability and preventing a future crisis. Betancourt's past business dealings, including lucrative power-plant contracts and allegations of kickbacks, have drawn scrutiny. Betancourt and his representatives have consistently denied any wrongdoing.