US President Donald Trump has announced that Washington has reached an agreement with Venezuela that would place a significant portion of the country’s oil reserves under US control.
Trump made the announcement in a post on his Truth Social account.
“The United States of America recently struck a deal with Venezuela that is the largest oil deal in world history. At my direction, Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, working closely with Venezuela’s interim President Delcy Rodríguez and in partnership with private enterprise, secured the transfer of more than 65 billion barrels of Venezuela’s proven oil reserves to US control at no cost to the American taxpayer,” Trump wrote.
According to Trump, the agreement will more than double US oil reserves.
He also said the deal is expected to significantly reduce gasoline prices in the United States.
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