President Donald Trump on Friday (August 28, 2026) said the U.S. has entered into an agreement with Venezuela to take control of 65 billion barrels of the South American country’s oil reserves.

Mr. Trump, in a social media post, announced the agreement he said was negotiated by Secretary of State Marco Rubio, Defence Secretary Pete Hegseth and Venezuela’s interim President Delcy Rodriguez.

“The United States of America has just entered into an Agreement with the Country of Venezuela on THE BIGGEST OIL DEAL IN WORLD HISTORY!” Mr. Trump wrote.