United States President, Donald Trump, has announced what he described as “the biggest oil deal in world history” between the United States and Venezuela, claiming that Washington has secured majority control of more than 65 billion barrels of proven Venezuelan oil reserves. Trump made the announcement in a post on his Truth Social account, saying the agreement was reached at his direction by US Secretary of State, Marco Rubio, and Secretary of War, Pete Hegseth, working with Venezuela’s interim President Delcy Rodríguez and private businesses.

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."