US and Venezuela Reach ‘Historic’ Oil Deal, Trump Says – BBC News
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Trump Announces Deal:
Trump announced on social media that the US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, doubling American oil reserves and potentially lowering gas prices.
Deal Details:
- Secretary of State Marco Rubio called it "a huge win" for both nations, promising nearly $100 billion in private investment and thousands of high-paying jobs for Venezuelans.
- The agreement was reached through a partnership with private business, Trump said, at "no cost to the American Taxpayer."
- No specific terms or commitments were described, but Trump emphasized that Venezuela would be turning over oil without any financial burden to the US.
Background:
- In January, the Trump administration seized control of Venezuela’s oil amid allegations of past unilateral seizures and sales.
- Venezuela holds the world’s largest proven oil reserves, estimated at 303 billion barrels, but production has plummeted in recent years.
Related Topics:
- Donald Trump
- United States
- Oil & Gas industry
- Venezuela
- Nicolás Maduro
