US officials defend Venezuela oil deal amid questions over rebuilding plan

Published September 2, 2026 · Category: News

Overview

Government talks up pact but Venezuelan opposition alarmed that democracy yet to return after Maduro exit

Trump 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 help stabilize and rebuild democracy in the shattered South American country while giving Washington vital access to strategic crude reserves.

Details

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.

Source

Originally published at www.theguardian.com.

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