President Donald Trump has hailed as 'historic' an agreement under which the US would control 65 billion barrels of Venezuela's oil, with Venezuela's interim president saying it will help revive the country's economy, according to the BBC. Full details of the arrangement have not yet been reported.
Key facts
- Trump described the agreement as 'historic', according to the BBC.
- The reported deal concerns US control of 65 billion barrels of Venezuela's oil.
- Venezuela's interim president said the agreement will help revive her country's economy, the BBC reported.
- The BBC characterised the arrangement as 'unusual'.
- Further terms, timeline and implementation details have not yet been reported.
US President Donald Trump has praised as ‘historic’ an agreement that would see the United States control 65 billion barrels of Venezuela’s oil, according to the BBC.
Venezuela’s interim president said the agreement would help revive her country’s economy, the BBC reported.
The BBC described the arrangement as unusual. The available reporting did not set out further details of the deal.
The terms, timeline and implementation of the agreement have not yet been reported beyond the initial statements attributed to both leaders.
Why it matters
An arrangement giving the US control over 65 billion barrels of Venezuela's oil could carry significant economic and diplomatic implications, though the reporting so far provides only the leaders' framing. Venezuela's interim president presents the deal as a route to economic recovery. Key details remain unconfirmed.
Frequently asked questions
What did Trump say about the deal?
According to the BBC, Trump described the agreement as 'historic'.
How much oil does the deal involve?
The agreement concerns US control of 65 billion barrels of Venezuela's oil, according to the BBC.
What does Venezuela say the deal will do?
Venezuela's interim president said the agreement will help revive her country's economy, the BBC reported.