USA & Canada Intelligence Brief — Saturday, August 29, 2026

On August 29, 2026, President Trump announced that the United States had secured majority control of more than 65 billion barrels of proven Venezuelan oil reserves, making the U.S. the second-largest reserve holder in the world. The deal, negotiated by Secretary of State Rubio and Secretary Hegseth with the Venezuelan Acting President Delcy Rodríguez, would bring over $100 billion in investment and $209 billion in taxes to Caracas.

However, the legality of the president's power to access the seized revenue was contested by Senators. Meanwhile, the Federal Reserve's odds of raising interest rates hit 58%, with the Fed's September meeting set for September 15-16. In response, the Treasury added an Iran-linked banker and a Hong Kong company to the sanctions list.

The G20 finance deputies opened two days of meetings in Asheville, with the agenda focused on Iran's financial lifelines, debt distress, and growth. As Latin America navigated negotiations on two fronts—oil and tariffs—voters prepared for the November elections.