The US has signed the "largest oil deal in history" with Venezuela.
Trump announced that as a result of the deal, U.S. oil reserves will more than double.
The US has reached an agreement to gain control over Venezuela's proven oil reserves of more than 65 billion barrels. This was announced by US President Donald Trump.
Trump called the agreement "the largest oil deal in world history," but did not disclose its details. According to him, as a result of the deal, US oil reserves will more than double, oil supplies in the country will increase, and gasoline prices will drop significantly.
US Secretary of State Marco Rubio noted that the agreement will allow Venezuela to attract nearly $100 billion in private investment. This is expected to help restore the country's economy.
For reference, in January 2026, the US conducted a military operation in Venezuela and took the country's president, Nicolas Maduro, and his wife, Cilia Flores, to the US. They have been charged with narcoterrorism.
Following that, Delcy Rodriguez, who previously served as vice president, began to govern Venezuela.
