Trump announces ‘biggest oil deal in world history’ with Venezuela

Donald Trump sealed Venezuela's future oil prospects on Friday, announcing the country's strategic oil reserves would be controlled by a US private company in partnership with Venezuelan officials. The deal was brokered with the "respectable" Delcy Rodríguez, who now governs Venezuela under the US-backed provisional authority following the capture of President Nicolás Maduro in January.

Trump aims to control 65 billion barrels of proven Venezuelan oil reserves, representing 21.7% of the estimated 300 billion barrels, while Rodríguez would secure $209 billion in taxes and $100 billion in investment, potentially committing the country to a century of operation. However, the opacity of the contract and the negotiated terms, featuring astronomical figures but undisclosed conditions, have sparked a wave of criticism, both from within and outside Venezuela.