US President Donald Trump has announced an agreement with Venezuela that he says gives the United States majority control over more than 65 billion barrels of the country’s proven oil reserves, marking a major expansion of Washington’s role in Venezuela’s energy sector. Trump said the agreement had been reached with Venezuela’s interim government through a partnership with private companies.

The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves, Trump said in a social media post.

President Donald Trump says the U.S. has entered an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves

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