Trump: U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

# Why This Matters This alleged agreement would fundamentally reorder energy markets and American foreign policy toward Latin America in ways with immediate economic and diplomatic consequences. Control over 65 billion barrels—nearly equivalent to Saudi Arabia's proven reserves—would give the U.S. strategic leverage over global oil prices and reduce American dependence on Middle Eastern suppliers, potentially lowering domestic gas prices while strengthening the dollar's petro-currency dominance. The arrangement signals a dramatic escalation in U.S. intervention in Venezuela's internal affairs, likely to deepen regional tensions with China and Russia, who have substantial investments in Venezuelan oil infrastructure and have supported the Maduro government. If implemented, such a deal would represent an unprecedented assertion of resource control over a sovereign nation, setting a precedent that could embolden similar interventions elsewhere and destabilize the international legal principle of permanent sovereignty over natural resources.