India, Aug. 29 -- US President Donald Trump has announced a major oil agreement with Venezuela that could give the United States majority control over more than 65 billion barrels of proven Venezuelan oil reserves through a partnership involving private businesses. Trump said the arrangement was negotiated with the involvement of Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's interim President Delcy Rodriguez.

Trump described the agreement as an unprecedented development in the global oil industry. In his social media post, he wrote, "The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!"

Trump Says US Will Gain Majority Co...