President Donald Trump announced on Friday an agreement with Venezuela that would give the United States control of the South American nation’s oil. Which boasts the world’s largest proven reserves.
“BREAKING NEWS: The United States of America has just made a deal with Venezuela on the largest oil deal in world history!” Trump wrote Friday night in a post on the Truth Social network.
He said that, following his instructions, “Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working closely with Venezuela’s highly respected Interim President Delcy Rodríguez, (…) have secured majority U.S. control of over 65 billion barrels of Venezuela’s proven oil reserves.”
The Republican president added that the agreement was “at no cost to the American taxpayer.”
According to official data, the figure represents approximately 21 percent of the total proven reserves of that South American country. Which amount to 303 billion barrels.
Rodríguez reportedly granted 100-year concessions to a private company (a joint venture between the U.S. government and a private operator in Venezuela) to exploit oil fields with these proven reserves.
A U.S. official indicated—as reported by The Hill—that the U.S. government will own more than half the value of the new oil company.
Following the U.S. attack on Venezuela in the early hours of January 3rd and the kidnapping of the constitutional president, Nicolás Maduro, along with his wife, Congresswoman Cilia Flores. The Trump administration took control of the nation’s oil exports.
With information from Prensa Latina
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