In a surprising announcement that has sent ripples through global energy and political circles, former U.S. President Donald Trump has confirmed that Washington has struck a wide-ranging agreement with Venezuela that grants the United States control over more than 65 billion barrels of the South American nation’s proven crude oil reserves.
Taking to his social media platform, Trump framed the agreement as a landmark achievement for American energy security, emphasizing that the deal would more than double the United States’ total documented oil reserves. He added that the expanded access to Venezuelan crude would significantly boost domestic oil supply and drive down retail gasoline prices for consumers across the country, a key priority for his political agenda.
The agreement comes months after U.S. authorities arrested Nicolás Maduro, Venezuela’s sitting president, earlier this year. Following that high-profile detention, Trump publicly pledged to unlock access to Venezuela’s vast oil reserves, which are officially recognized as the largest proven crude reserves on the planet. In recent weeks, the former president has faced mounting domestic political pressure to address elevated gasoline prices that have weighed on American household budgets, making a push for expanded oil supply a critical policy and political win.
U.S. Secretary of State Marco Rubio has also publicly praised the pact, calling it a transformative victory that delivers tangible benefits for both the American public and the people of Venezuela. As of the current announcement, no further details about the terms of the deal, its timeline for implementation, or the specific terms of control over the reserves have been released to the public, leaving energy analysts and political observers waiting for additional clarity on the agreement’s long-term implications.