U.S. enters agreement with Venezuela to take control of 65 billion barrels of oil reserves, Trump says
President Donald Trump announced a major agreement with Venezuela to gain majority control over 65 billion barrels of oil reserves. The deal follows previous U.S. efforts to remove former leader Nicolás Maduro.
Why it matters
This deal could significantly alter global energy markets and U.S. foreign policy, especially amid ongoing tensions in the Middle East.
Oil platforms and pumpjacks at Lake Maracaibo in Cabimas, Venezuela. Washington has secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private business, U.S. President Donald Trump says. Leonardo Fernandez Viloria/Reuters
President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.
Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela’s interim President Delcy Rodriguez.
“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.
The Venezuelan government’s press office did not immediately respond to a request for comment.
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