US and Venezuela reach 'historic' oil deal, Trump says
The agreement would grant the US majority control of over 65 billion barrels of proven Venezuelan oil reserves, Trump said.
The United States has struck an "historic" oil agreement with Venezuela, President Donald Trump announced, which will give the U.S. control over 65 billion barrels of Venezuela's confirmed oil reserves.
On social media, Trump declared, "This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans."
Earlier this year, following the arrest of then-Venezuelan President Nicolás Maduro by the U.S., Trump had pledged to access Venezuela's oil reserves, which are the largest globally. The President has recently faced increasing pressure domestically to reduce gas prices.
Secretary of State Marco Rubio described the agreement as "a huge win for both the American and Venezuelan people." Specifics of the deal have not yet been disclosed.