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US and Venezuela seal 25-year oil deal

US and Venezuela seal 25-year oil deal

The United States and Venezuela have signed a 25-year oil deal, which President Donald Trump called 'the biggest oil deal in world history'.

Venezuela's interim president has assured the public that the country retains sovereignty over its oil despite the agreement granting the US significant access to its reserves.

The deal marks a major geopolitical shift in energy relations.

Details of the agreement's terms and implications are still emerging.

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United States
Country located primarily in North America
Venezuela
Country in South America
Donald Trump
President of the United States (2017–2021; since 2025)