August 29, 2026
Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves


US President Donald Trump speaks in the Rose Garden of the White House in Washington, DC, on Aug. 24, 2026.

Jim Watson | AFP | Getty Images

The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves, President Donald Trump announced Friday.

Trump said in an evening social media post that the deal comes “at no cost to” U.S. taxpayers.

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