Trump says US to take control of a fifth of Venezuela's oil reserves
US President Donald Trump has announced an agreement with Venezuela under which the United States will gain control of a fifth of the country's oil reserves. Venezuela holds some of the world's largest known oil deposits.
US President Donald Trump has said Washington has reached an agreement with Venezuela that will give the United States control over a fifth of the country's oil reserves.
Such a deal would hand the US significant influence over one of the world's largest known oil reserve bases. Trump made the announcement publicly, though further details of the arrangement — including how the control would be implemented in practice — have not yet been disclosed.
Venezuela holds one of the largest proven oil reserves of any country, and access to these resources has long been a focus of international political and economic interest.
The announcement comes amid a period of strained relations between the US and Venezuela in recent years, marked by sanctions and political tensions within the South American country. Any agreement granting control over its oil resources could have significant implications for regional economic balance and global oil markets.
Further information about the legal structure, duration or financial terms of the agreement has not yet been made public.
