Trump Secures Control Over 65 Billion Barrels of Venezuelan Oil Reserves

US President Donald Trump has announced that his administration has secured control over 65 billion barrels of Venezuela's oil reserves, roughly one-fifth of the country's massive reserves.

The agreement will span 25 years and cover 17 oil fields, according to Venezuelan interim president Delcy Rodriguez. She claims it will bring her country more than $100 billion in investment, as well as approximately $19 for every barrel produced.

However, critics argue that the deal is 'opening the doors to a new form of US colonialism', as Rafael Ramirez, former head of Venezuela's state-owned oil company PDVSA, put it. The Wall Street Journal described the agreement as looking like 'a normal commercial transaction' but warned that it may be unconstitutional.

Trump has insisted that the deal will not cost the US taxpayer anything and that it will help lower fuel costs for Americans, although experts remain cautious about this prediction.