Trump announces U.S. control over 65 billion barrels of Venezuelan oil reserves

President Trump announced a significant deal Friday that grants the United States majority control over more than 65 billion barrels of proven Venezuelan oil reserves. This move comes as the Trump administration seeks to re-engage U.S. oil companies in Venezuela, following a U.S. military operation earlier this year that led to a change in the country's leadership.

Details of the arrangement, including specific oil fields and drilling responsibilities, have not yet been released by the administration. President Trump stated that the deal was secured "at no cost to the American Taxpayer" and was achieved through a partnership with private businesses. He asserted on Truth Social that this "Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity."

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This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity.

Secretary of State Marco Rubio commented on social media that the deal is expected to attract nearly $100 billion in private investment. He also projected that it would support thousands of high-paying jobs and aid in the reconstruction of Venezuela's economy. Venezuela possesses over 300 billion barrels of proven oil reserves, making it one of the world's largest holders of crude oil.

This is a breaking news story and will be updated as more information becomes available. Ibrahim Aksoy contributed to this report.

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bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy.