US and Venezuela reach 'historic' oil deal, Trump says
Summary
The United States, led by President Donald Trump, has made a deal with Venezuela to control over 65 billion barrels of its oil reserves. The agreement aims to increase U.S. oil supply, lower gas prices, and bring investment and jobs to Venezuela, with no cost to American taxpayers.Key Facts
- The deal gives the U.S. control over more than 65 billion barrels of Venezuela's proven oil reserves.
- Venezuela has the largest proven oil reserves in the world, about 303 billion barrels.
- President Trump announced the deal on social media and said it would more than double U.S. oil reserves.
- Secretary of State Marco Rubio called the deal beneficial for both Americans and Venezuelans.
- The agreement is a partnership involving private businesses and claims no cost to U.S. taxpayers.
- Earlier in the year, the U.S. arrested Venezuelan President Nicolás Maduro during a military operation authorized by Trump.
- Trump said the U.S. would manage Venezuela’s oil sales until a proper political transition happens.
- The deal is expected to bring about $100 billion in private investment and create many jobs in Venezuela.
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