Trump’s ‘biggest oil deal in history’ with Venezuela: a distraction from Iran war fuel pain?

Updated on Aug 29, 2026 10:48 pm IST

President Donald Trump says the U.S. has reached what he calls “the biggest oil deal in world history” with Venezuela, claiming a partnership with interim President Delcy Rodríguez will give the United States majority control of more than 65 billion barrels of proven Venezuelan oil reserves “at no cost to the American taxpayer.”

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