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Trump Reveals Major Venezuela Oil Deal
The Trump administration announced the signing of the largest oil deal in history with Venezuela, aiming to gain control over more than one-fifth of Venezuela's oil reserves, equivalent to over 65 billion barrels, through an agreement with the interim leadership in Caracas. The deal seeks to increase U.S. oil production and reduce fuel prices within the United States, with private investments expected to reach approximately $100 billion and create thousands of jobs. However, the agreement raises questions about the legal and regulatory frameworks within Venezuela, as developing oil fields requires years and faces legal and constitutional challenges amid the country's mismanagement and sanctions. This move is part of Washington's effort to expand its influence in the Venezuelan energy sector and secure long-term oil supplies, ahead of the U.S. elections and the need to stabilize fuel prices.
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