US Secures Major Stake in Venezuelan Oil Reserves

Aug 29, 2026

66 min

Aug 29, 2026 04:30

Trump announces deal for huge US stake in Venezuelan oil reserves

## Historic Oil Deal Announced

President Donald Trump has revealed a significant agreement with Venezuela, granting the United States majority control over 65 billion barrels of proven oil reserves. This deal, described by Trump as the largest in history, is expected to bring nearly $100 billion in private investment to Venezuela.

## Impact on Venezuela

Interim Venezuelan leader Delcy Rodriguez confirmed the agreement, highlighting its potential to generate over $209 billion in tax revenue for the state. The deal is seen as a pivotal moment for Venezuela, promising substantial economic benefits and job creation.

## US Strategic Interests

The agreement is part of Trump's broader strategy to secure stable oil reserves and reduce gas prices domestically. Secretary of State Marco Rubio emphasized the deal's role in strengthening US-Venezuelan relations and supporting America's energy needs.

## Unanswered Questions

Despite the announcement, there are still uncertainties regarding the transfer of oil assets. Experts like Jorge Pinon from the University of Texas have raised questions about the nature of the asset transfer and its implications for private enterprises.

## Broader Context

The deal comes at a time when the US is facing high gasoline prices and a depleted strategic petroleum reserve. It also follows the US-led ousting of former Venezuelan leader Nicolas Maduro, with Rodriguez serving as interim leader under US oversight.

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