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The Independent UK
The Independent UK
National
Josh Marcus

Trump closes in on blockbuster deal to give U.S. access to 90 billion barrels of Venezuelan oil

Donald Trump United States Oil Venezuela
  • The U.S. is reportedly close to securing a massive deal that would give it long-term access to, or an ownership stake in, Venezuelan oil fields with 90 billion barrels of proven reserves.
  • High-level discussions between U.S. and Venezuelan officials suggest the deal could involve leasing fields and holding auctions for American oil producers.
  • The U.S. has been managing Venezuelan oil sales since capturing Nicolás Maduro in January, with President Trump stating the U.S. has collected over $13 billion so far.
  • Secretary of State Marco Rubio noted that oil revenue is held in a Citibank account and audited by KPMG, supported by temporary U.S. sanctions relief.
  • Increased access to Venezuelan crude could lower elevated U.S. fuel prices stemming from the conflict with Iran and tensions in the Strait of Hormuz.

IN FULL

US close to reaching a ‘massive’ deal to take control of Venezuela’s oil: report

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