Oil agreement will bring $100 billion in investment to VenezuelaPhoto by Rishikesh Dharane on Pexels
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Oil agreement will bring $100 billion in investment to Venezuela

CNN Portugal29 August 2026 at 09:38

United States President Donald Trump announced that the United States has reached an agreement with Venezuela that envisions a $100 billion investment in the South American country. The agreement represents a significant shift in relations between the two countries.

According to Trump's announcement, the United States will take control of 65 billion barrels of Venezuelan oil reserves. This value represents a substantial portion of the South American country's oil reserves, which has one of the largest oil reserves in the world.

The agreement comes in a context of rapprochement between Washington and Caracas, reversing the sanctions and pressure policy that had been implemented during previous administrations. Venezuela, which faces severe economic difficulties, may benefit from this massive investment to boost its oil industry.

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