Venezuela's National Assembly approved a deal on Tuesday handing the United States control of about one-fifth of the country's oil reserves, cementing Washington's grip on a government it helped install after toppling Venezuelan President Nicolás Maduro in January.
US officials defended the multibillion-dollar agreement on Tuesday, saying it would lower oil prices for Americans and counter Russian and Chinese influence on Washington's doorstep.
But major questions remain about the deal, which comes as Washington maintains an unprecedented grip on the government in Caracas.
Late on Tuesday, US Energy Secretary Chris Wright arrived in Venezuela, with a signing of the agreement set for Wednesday. Oil giant Chevron is expected to announce a major expansion in Venezuela on the same day.
Trump earlier met oil executives at the White House as he tries to tame petrol prices that are spiralling because of the Iran war, with his administration hoping the Venezuela deal could help.
