'Biggest deal in world history': Trump says US secured 65 billion barrels of Venezuelan oil
Venezuelan interim President Delcy Rodriguez said the oil deal was expected to generate $209 billion for Venezuela's treasury.
In a monumental oil deal, US President Donald Trump secured majority control of over 65 billion barrels of Venezuelan oil reserves, marking the "biggest oil deal in world history." The agreement, facilitated by US Secretary of State Marco Rubio and Secretary of War Pete Hegseth, was reached with the support of Venezuela's interim president, Delcy Rodriguez.
Trump announced the deal on social media, stating that it would double America's oil reserves and lower gas prices. Rodriguez welcomed the agreement, promising that it would bring significant investment to Venezuela's infrastructure and oil industry, generating over $209 billion in taxes. The US will own approximately 55% of the new joint venture, which is expected to become the world's second-largest private oil company.
The deal comes at a crucial time, as the US strategic petroleum reserve is replenished and meets the energy demands of the American military, as Iran's ongoing conflict has disrupted global oil supplies.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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