US officials defend Venezuela oil deal amid questions over rebuilding plan
Sep 01, 2026
Government talks up pact but Venezuelan opposition alarmed that democracy yet to return after Maduro exitTrump administration officials on Tuesday defended a highly contentious deal giving the US control of a significant chunk of Venezuelan oil reserves, arguing that the sweeping agreement would hel
p stabilize and rebuild democracy in the shattered South American country while giving Washington vital access to strategic crude reserves.Last week, Donald Trump announced a “groundbreaking” deal that would give the US “majority” control over 65bn barrels – roughly one-fifth – of Venezuela’s oil reserves. Continue reading... ...read more read less