Former President Donald J. Trump announced on a televised interview on Sunday that the United States has secured a historic agreement with the Venezuelan government to acquire control over an estimated 65 billion barrels of oil reserves. According to Trump, the deal—referred to as the “American Energy Partnership”—will see U.S. state‑run entities manage extraction, refining, and export operations in Venezuela’s western basin for a period of 20 years, in exchange for a $10 billion upfront payment and a commitment to modernize the country’s oil infrastructure. The announcement came amid heightened tensions between the United States and the Maduro administration, which has faced international sanctions for alleged human‑rights abuses. Critics, including several members of Congress and energy analysts, have questioned the legality of the agreement, citing the need for Senate ratification of any treaty involving sovereign assets. The Venezuelan Ministry of Petroleum released a brief statement confirming that “discussions are ongoing” and that any final agreement will be subject to the nation’s constitutional procedures. The news has already caused a surge in global oil markets, with Brent crude futures rising 2.5 % in early trading.
On top of everything as it happens