Trump Announces Oil Deal Giving US Majority Control of Venezuela's Reserves

In late August 2026, the Trump administration announced a sweeping oil agreement with Venezuela that would give the United States majority control over the country's vast oil reserves. According to reports, the deal would grant the US a 55% stake in Venezuela's reserves for the next 100 years, with no official text released so far. The plan also includes refilling the US Strategic Petroleum Reserve with Venezuelan oil and potentially giving the Pentagon a financial stake in the country's oil wealth.

The deal has stirred controversy across Venezuela's political spectrum, with critics warning that the country could become a natural resource colony. Supporters, however, see it as a way to secure US energy interests. The lack of a published agreement has raised questions about the terms and transparency of the deal, and it remains unclear how it would affect Venezuela's ongoing political transition.