Trump announces new US oil agreement with Venezuela
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- US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves. The terms of the…
- A deal giving the U.S. majority control of vast Venezuelan reserves strikes at the heart of national identity.
- Venezuelan interim president says the unusual agreement will help revive her country's economy.
Coverage
- US President Donald Trump has announced an agreement with Venezuela to take control of 65 billion barrels of oil. The South American country has the world's largest proven oil reserves, but production has long stalled.
- Few details have emerged about deal between Washington and Caracas, criticised as takeover of Venezuela's resources.
- Under the deal, $19 from every barrel of oil sold to the US will flow to Caracas, interim President Rodriguez says.
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