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Trump unveils deal ceding Venezuela's oil to Washington
U.S. President Donald Trump announced that his administration has reached an oil agreement with Venezuela that grants Washington control over oil reserves exceeding 65 billion barrels. The deal, which Trump described as the largest in history, involves securing a dominant share of these reserves at no cost to American taxpayers, while enhancing U.S. oil supplies and reducing gasoline prices in the United States. He explained that the agreement was finalized with the participation of the private sector alongside the interim Venezuelan government, and it is expected to support the Venezuelan economy, attract investments totaling nearly $100 billion, and create high-paying jobs. Reports indicate that the negotiations also include the U.S. taking stakes in Venezuelan oil fields in exchange for American investments in the oil and gas sector, aiming to reduce reliance on the Strait of Hormuz market and bolster global production.
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