Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

US President Donald Trump has announced that the US has entered into an agreement with Venezuela to take control of more than 65 billion barrels of Venezuela's proven oil reserves. According to Trump, the deal was negotiated by Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and Venezuela's interim President Delcy Rodriguez, and secured majority US control of the reserves through a partnership with private business, at no cost to the American taxpayer.

The announcement comes nearly nine months after the US military captured Venezuelan President Nicolás Maduro and brought him to the US to face federal narcoterrorism and drug trafficking charges. Trump described the arrangement as "the biggest oil deal in world history" and said it would more than double American oil reserves and substantially cut gas prices for Americans.

The deal is part of a broader effort to reshape US relations with Venezuela. According to ABC News AU, details about private sector partners involved in the deal and how the arrangement would work are unclear. The Venezuelan government has not immediately responded to requests for comment.

Brief written by urgent.news from NPR, ABC News AU, The Indian Express, The Korea Times, The Business Times - Companies & Markets — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.