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.

The President has sought American control over the South American nation's reserves since it deposed dictator Nicolas Maduro earlier this year in Operation Absolute Resolve.

More than 65 billion barrels of the country's proven oil reserves have passed under the control of the US

Trump said the U.S. has established "majority" control over 65 billion barrels of oil in Venezuela, "at no cost to the American taxpayer."