US Seeks Stake in Venezuela's Massive Energy Reserves Amid Criticism

The Trump administration is making moves to secure long-term access to Venezuela's massive energy reserves, worth an estimated $303 billion. The US hopes to take a direct stake in over a dozen oilfields containing nearly a third of Venezuela's energy reserves.

Venezuela has the world's largest proven crude oil reserves, surpassing Saudi Arabia and Iran. However, critics describe the move as 'predatory' and a 'rapacious land grab.'

The administration's announcement did not provide details on the agreement's structure or how control of the reserves would be divided.