Trump Announces US Control of Venezuelan Oil Reserves

President Donald Trump announced a deal granting the United States majority control over 65 billion barrels of Venezuela’s proven oil reserves to revive the nation's energy industry.

The agreement, involving Secretary of State Marco Rubio and Venezuelan Interim President Delcy Rodriguez, is expected to generate approximately $209 billion for the Venezuelan state treasury.

Venezuelan officials plan to sign exploration and production rights agreements next week, with the US administration aiming to secure crude supplies and lower domestic gas prices.