Alejandro Betancourt, Venezuelan businessman, has moved from being banned from leaving the UK to becoming a commercial partner of the US government. This agreement aims to reactivate the Venezuelan oil industry.
The United States has turned to Alejandro Betancourt, a Venezuelan businessman, to help revive the country's oil reserves. North American Blue Energy Partners (NABEP), Betancourt's company and the second largest private oil company in Venezuela, will take control of over 65 billion barrels of oil in a deal considered by the Trump Administration as "the largest oil deal in history," according to expansion.com.
This radical change in Betancourt's situation is remarkable, as until May of this year he was banned from leaving the UK due to an extradition request from Switzerland for possible money laundering offenses. Now, he collaborates with the US government and Venezuelan Vice President Delcy Rodríguez to revitalise the economy, despite the criticism he has received.
In Venezuela, Betancourt is seen as a bolichico, a term that describes businessmen with political connections who have prospered since Hugo Chávez's arrival. His companies have faced allegations of irregularities, such as inflating prices on contracts for the construction of power plants, but no formal charges have ever been filed.
His reputation has been controversial, especially abroad, where he has been criticized by protesters who accuse him of financing the Caracas dictatorship. Despite this, Betancourt continues his expansion, also being the majority owner of the sunglasses brand Hawkers.
You may also like
