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France 24
France 24
World
FRANCE 24

Trump announces 'historic' agreement for US stake in Venezuela oil reserves

Oil United States Venezuela Donald Trump Delcy Rodriguez Marco Rubio Nicolas Maduro Axios Caracas Washington D.C.
Cover image: View of an oil tanker at the Maracaibo Lake in Maracaibo, Venezuela, on March 9, 2026. © Margioni Bermudez, AFP

Washington and Caracas announced Friday that they had reached a “historic” oil agreement, under which the United States will take majority control of more than 65 billion barrels of Venezuela's reserves.

US President Donald Trump said Friday his administration has reached a huge oil deal with Venezuela that gives the United States majority control of 65 billion barrels of proven petroleum reserves.

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