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Trump secures vast, potentially costly U.S. stake in Venezuelan oil industry - The Washington Post
Business and EconomyBy Evan Halper, Karen DeYoung, Anthony Faiola, Samantha Schmidt8/28/20261 min read
The deal is contentious and could cost billions.
✨ Key Highlights
- President Donald Trump announced on Friday an oil agreement with Venezuela, describing it as a deal that would give the United States a significant stake in the Venezuelan oil industry.
- According to Trump, the arrangement involves 65 billion barrels of oil and would more than double U.S. reserves.
- Trump asserted that the deal would come at no cost to American taxpayers, framing it as a benefit to the country.
- The agreement is described as contentious, with concerns that it could ultimately cost billions of dollars.
- The announcement marks a notable development in U.S.-Venezuela relations, centering on access to the country's substantial oil resources.
BREAKING: President Donald Trump on Friday announced an oil agreement with Venezuela, which he said would involve 65 billion barrels and more than double U.S. reserves at no cost to the American Taxp