Trump's Venezuela Oil Deal Faces Scrutiny Over Partner and Pentagon Stake

In early September 2026, the White House released new details of a controversial oil deal between the U.S. and Venezuela, announced by President Donald Trump. The plan gives the Pentagon a 35% stake in a new company and involves Chevron nearing an agreement to operate two fields in Venezuela's Orinoco Belt. However, the deal has drawn anger across South America and raised questions about its viability, partly because of the involvement of Alejandro Betancourt, a businessman accused of money laundering, who is reportedly a key figure behind the agreement.