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Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

Aug 28, 2026, 4:04 PM

President Donald Trump waves after arriving off Air Force One, Friday, Aug. 28, 2026, at Joint Base...

President Donald Trump waves after arriving off Air Force One, Friday, Aug. 28, 2026, at Joint Base Andrews, Md. (AP Photo/Mark Schiefelbein)
Credit: AP Photo/Mark Schiefelbein

(AP Photo/Mark Schiefelbein)

Associated Press's Profile Picture

BY ASSOCIATED PRESS


WASHINGTON (AP) — President Donald Trump on Friday said 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 in a social media post announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela’s interim President Delcy Rodriguez.

“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote.

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Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves