WASHINGTON—US President Donald Trump announced an oil deal with Venezuela that he said would give the United States majority control of more than 65 billion barrels of Venezuelan crude oil reserves at no cost to US taxpayers.
According to the president, the agreement would make the
United States the primary beneficiary of one of the world's largest oil
reserves and more than double US crude oil reserves.
Trump maintained that the deal would also have a direct
impact on consumers by contributing to lower gasoline prices in the United
States.
The announcement represents a significant shift in the
energy relationship between Washington and Caracas, placing Venezuela's vast
oil reserves at the center of a new strategy for cooperation and resource
utilization.
The US president presented the agreement as an economic
benefit for his country, highlighting both access to Venezuelan reserves and
the potential effect on fuel prices.