Venezuela Grants U.S. Control of 20% of Oil Reserves in Major Treaty
Acting President Delcy Rodríguez signed an agreement granting the United States control of approximately one-fifth of Venezuela's oil reserves through a joint venture with North American Blue Energy Partners. The deal includes 100-year rights to 17 oil fields holding 65 billion barrels of crude. The agreement aims to stabilize global oil prices and follows the capture of former President Nicolás Maduro by U.S. forces in January. Critics from the Venezuelan democratic opposition have decried the deal as a surrender of national sovereignty.
Date: September 3, 2026
Location: Caracas, Venezuela
Conflict: Venezuela Crisis
Category: diplomacy
Severity: HIGH
Source: Washington Post