U.S. Navy blockade slashes Iran oil exports as Trump administration shifts to economic warfare
The U.S. has shifted to a campaign of economic warfare, after a dozen waves of airstrikes in July failed to force Tehran to abandon its claim to Hormuz.
The United States is reportedly in the process of negotiating a deal with Venezuela that would grant Washington long-term access to several of the South American nation's oilfields. This potential agreement, which could be signed and made public soon, aims to secure a stable supply of oil for the United States and help lower oil import costs.
According to sources familiar with the development, the deal may involve leasing the Venezuelan oilfields to American companies, with some sources suggesting a 100-year lease term. The deal could potentially raise constitutional questions and face legal challenges, but if finalized, it could help address both the United States' oil supply needs and Venezuela's struggling energy sector.
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