Trump says the US will hold majority control of 65 billion barrels of Venezuelan oil reserves

Donald Trump announced a deal with Venezuela that, he said, gives the United States majority control of about 65 billion barrels of proven reserves, NPR and Al Jazeera reported. According to Al Jazeera, acting president Delcy Rodríguez welcomed it, cited $209 billion for the state treasury, and Venezuelan officials are preparing to sign next week.

On state-aligned TV, Mario Silva read the announcement and an open letter calling it "the greatest oil betrayal." On the opposition side, David Placeres said a leak mentions 17 strategic fields and cited economist Francisco Rodríguez, who estimates $3.22 in fiscal revenue per barrel.

«They have secured majority US control over more than 65 billion barrels of proven oil reserves in Venezuela…»— Donald Trump (quoted by Mario Silva), August 29, 2026 · watch

«That may be where the trap lies in what Donald Trump is announcing.»— David Placeres, August 29, 2026 · watch