President Donald Trump on Friday said the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country's oil reserves. NDTV reported.
Trump in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's interim President Delcy Rodriguez.
The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump wrote.
Trump in his social media post Friday evening alluded to the Venezuela deal being part of a private partnership. The White House did not immediately reply to a request for comment about the private sector partners involved in the deal, and details on how the arrangement would work were not provided.
Persuading big American oil companies to return the region could face headwinds given and decades of badly damaged infrastructure.
Days after the ouster of Maduro, Trump gathered oil executives at the White House and called on them to rush back into Venezuela. Executives expressed interest in the opportunity but there was also a measure of caution given their past experience in the country.
