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Trump claims largest oil deal with Venezuela
U.S. President Donald Trump announced that the United States has signed the largest oil deal in history with Venezuela, securing over 65 billion barrels of Venezuelan oil reserves. The goal of the deal is to more than double U.S. oil reserves and to reduce gasoline prices for consumers in the coming years, by American control of these reserves without any cost to taxpayers. The momentum for this agreement stems from efforts by the Secretary of State and the Secretary of Defense, leading to private investments worth up to $100 billion, creating high-paying jobs, and rebuilding the Venezuelan economy. Currently, Washington manages Venezuela's economic and oil system by controlling oil revenues, which are distributed to the state through accounts under its control. Meanwhile, Trump faces criticism over how the revenues from Venezuelan oil are allocated.
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