US Defends Trump's Venezuela Oil Deal Amid Controversy
US officials defended President Donald Trump's oil deal with Venezuela on Tuesday, saying it would lower oil prices for Americans and counter Russian and Chinese influence in the region.
The deal grants the US control of about one-fifth of Venezuelan reserves in exchange for a multibillion-dollar agreement.
Venezuela's government-dominated National Assembly backed the deal, but some opposition lawmakers abstained from the vote, citing concerns over the terms of the agreement.
US Energy Secretary Chris Wright arrived in Venezuela on Tuesday to sign the agreement, which includes Chevron announcing a major expansion in the country.
A US official described the deal as a 'geopolitical opportunity' to secure fields previously run by Russian and Chinese companies and align them with the US.