Venezuela Sells Out: Government Grants Control Over $100 Billion Oil Reserve to US-Backed Firm

The Venezuelan government has signed a historic deal that grants a private entity, backed by the US military, control over one-fifth of its crude oil reserves.

The agreement with North American Blue Energy Partners hands operational control over 17 fields in the Orinoco Belt and Lake Maracaibo to Alejandro Betancourt's firm, encompassing an estimated 65 billion barrels of crude.

The US Pentagon will secure a 35 percent ownership stake in the parent company through its Office of Strategic Capital.

This move is seen as a victory for the 'Donroe Doctrine,' a policy aimed at purging Russian and Chinese influence from the hemisphere while securing cheap energy for America's strategic oil reserves.