US Secures Control of 65 Billion Barrels of Venezuelan Oil Reserves
President Trump has announced that the United States has entered into the largest oil deal in history, securing majority control of Venezuela's over 65 billion barrels of proven oil reserves at no cost to American taxpayers. The deal, which was negotiated by Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, doubles the country's oil reserves and is projected to lower gas prices for Americans long into the future.
The administration described the agreement as a 'Historic Transaction' that strengthens the growing relationship between Venezuela and the United States. The deal also sets Venezuela on a course towards prosperity.
Meanwhile, the White House has released a comprehensive accounting of the naval blockade of the Strait of Hormuz, confirming that the United States, not Iran, controls the passage. Since the blockade's resumption in July 2026, U.S. forces have cleared Iranian mines from international shipping lanes, turned away 75 vessels attempting to breach the blockade, and facilitated the movement of nearly 1,500 commercial ships carrying 750 million barrels of crude oil.
The blockade has resulted in Iran losing approximately $13 billion per month in revenue, triggering a domestic fuel crisis, currency collapse, and cascading inflation inside the Islamic Republic. Gulf oil exports have recovered to two-thirds of pre-operation levels under U.S. protection.