US defends Trump's Venezuela oil deal
US officials defended President Donald Trump's oil deal with Venezuela, claiming it lowers oil prices for Americans and counters Russian and Chinese influence near Washington. The Venezuelan government-backed National Assembly approved the multibillion-dollar agreement, which gives the US control of about one-fifth of Venezuelan reserves.
However, there are concerns about the deal, coming amid US control over Venezuela's government after toppling President Nicolas Maduro in January. Trump met with oil executives at the White House, aiming to lower gas prices due to the Iran war. US Energy Secretary Chris Wright will visit Venezuela later to sign the agreement, with oil giant Chevron announcing a major expansion on the same day.
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