Trump says US has struck oil agreement with Venezuela
The US president said a new arrangement would give Washington majority control over Venezuela’s vast proven oil reserves.
Donald Trump said on Friday that the United States had reached an oil agreement with Venezuela that would give Washington majority control of the South American country’s proven reserves. He described the deal as a major step in US energy policy.
Trump said the arrangement covers about 65 billion barrels of oil and was negotiated with Venezuela’s interim president, Delcy Rodríguez. He said the agreement was put together with private business involvement.
The terms of the deal were not immediately made public. Trump said Secretary of State Marco Rubio and Defense Secretary Pete Hegseth helped broker it.
A BBC report said Rodríguez has presented the unusual agreement as a way to help Venezuela’s economy recover. Venezuela holds some of the world’s largest oil reserves, much of them still untapped.
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