US Secures Control Over Venezuelan Oil Reserves Under Trump

The United States has made an unprecedented move to secure control over a substantial portion of Venezuela's oil reserves, with President Donald Trump announcing a partnership that will give American companies majority control over more than 65 billion barrels of proven reserves.

Trump announced on the platform Truth Social that this deal was achieved "at no cost to the American taxpayer." The initiative aims to revitalize Venezuela's struggling energy sector and simultaneously tap into a new source of crude oil to help lower domestic gasoline prices. The US administration faces pressure ahead of the midterm elections later this year due to rising fuel costs.

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the USA has secured majority control over more than 65 billion barrels of proven oil reserves in Venezuela through a partnership with private companies.

The announcement follows weeks of negotiations between the US and Venezuela. The agreement is designed to grant US companies long-term access to Venezuelan oil fields and guarantee a steady supply of crude oil for US refineries. Venezuela possesses the world's largest proven oil reserves but produces only about 1.25 million barrels per day due to years of underinvestment, mismanagement, and sanctions.

Since the US no longer recognizes the government of former President Nicolas Maduro, Washington has been seeking a stable supply of Venezuelan crude for its refineries. This latest move signals a significant shift in US-Venezuela relations and energy policy.

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without cost to the American taxpayer