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Trump wants to replenish US strategic reserves with Venezuelan oil

Trump intends to replenish US strategic reserves with Venezuelan oil

US President Donald Trump announced that under a recent agreement, oil from Venezuela will be directed to replenish the country's strategic reserves.

The head of the White House wrote about this on his social media page. According to him, the process of replenishing reserves will begin soon. Donald Trump called Venezuelan oil "a gift from Venezuela to the American people."

The details of the agreement and what economic benefits it will bring to both sides are still unknown. The White House stated that the main goal of this move is to restore the Venezuelan oil industry, which is in dire straits. Achieving this goal will require significant investments, so the process may take a long time.

As of August 21 of this year, the United States' strategic oil reserves amounted to about 290 million barrels. This is one of the lowest levels in 44 years. This was due to the fact that the United States has released a large amount of oil from its reservoirs due to instability in the global market.

The strategic reserves have continued to decline under both the Joe Biden and Donald Trump administrations. Factors such as Russia's invasion of Ukraine and the conflict with Iran have contributed to this.

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