Trump announces deal for huge US stake in Venezuelan oil reserves

The Trump administration has announced a significant agreement to gain majority control over a substantial portion of Venezuela's vast oil reserves. President Donald Trump revealed on the social media platform Truth Social that the US has secured a fifth of Venezuela's proven oil reserves, amounting to over 65 billion barrels.

This unprecedented move is framed as a strategic partnership with private businesses, intended to revive Venezuela's struggling energy sector. The administration's objective is to tap into this new source of crude oil, with the stated goal of helping to reduce fuel prices for American consumers.

According to Trump's announcement, the deal was facilitated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, in collaboration with Venezuela's Highly Respected Interim President, Delcy Rodriguez. Crucially, Trump emphasized that this acquisition comes at no cost to American taxpayers.

The agreement follows weeks of negotiations between the US and Venezuela. While specific details remain scarce, sources had previously indicated that a lease model was under consideration, potentially involving auctions for US producers. However, the arrangement could face legal and constitutional hurdles within Venezuela, where the state maintains control over key oil industry operations.

This development signifies a major expansion of US involvement in Venezuela's oil sector. The Trump administration is seeking to boost the country's depleted production and secure a more stable supply of Venezuelan crude for US refineries. This initiative is particularly relevant ahead of the upcoming midterm elections, where rising gasoline prices are a significant concern for voters.

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At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority US control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.