Jump to contentAllNewsSportCultureLifestyleA photograph which U.S. President Donald Trump posted on his Truth Social account shows what he describes as Venezuelan President "Nicolas Maduro on board the USS Iwo Jima" amphibious assault shi (@realDonaldTrump/Truth Social)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 fullUS close to reaching a ‘massive’ deal to take control of Venezuela’s oil: reportMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Trump closes in on deal to give U.S. access to 90 billion barrels of Venezuelan oil
Jump to contentAllNewsSportCultureLifestyleA photograph which U.S. President Donald Trump posted on his Truth Social account shows what he describes as Venezuelan President "Nicolas Maduro on board the USS Iwo Jima" amphibious assault shi (@realDonaldTrump/Truth Social)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 fullUS close to reaching a ‘massive’ deal to take control of Venezuela’s oil: reportMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
