Sunday, August 30, 2026

Trump announces major oil deal with Venezuela

President Donald Trump announced what he called the 'biggest oil deal in world history' with Venezuela, securing majority U.S. control over more than 65 billion barrels of proven oil reserves. The deal, negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuelan interim President Delcy Rodriguez, involves developing 17 strategic oil fields and is projected to bring over $100 billion in private investment to Venezuela. The announcement has drawn both praise from officials and skepticism from analysts regarding its feasibility and legal implications.