Trump announces Venezuela oil deal, as gas prices still high 6 months into Iran war
Official says deal would let US buy oil at cost from firm formed to tap South American country's vast reserves, which Caracas opened to investors after Washington captured Maduro The post Trump announces Venezuela oil deal, as gas prices still high 6 months into Iran war appeared first on The Times of Israel .
United States President Donald Trump announced an agreement on Friday granting the country majority control of Venezuela's proven oil reserves. Trump described the deal as the "biggest oil deal in world history," covering approximately 65 billion barrels of petroleum reserves. The agreement could attract nearly $100 billion in private investment into Venezuela.
The United States president stated that the deal would more than double the country's oil reserves. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth were reportedly involved in negotiating the agreement with Venezuela's interim leader, Delcy Rodriguez. Rodriguez confirmed the historic agreement, stating it would play a major role in rebuilding Venezuela's economy, potentially generating over $209 billion in tax revenue.
However, questions remain about the mechanism through which the United States would obtain control of the Venezuelan oil assets.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
