President Donald Trump announced a "historic" agreement between the United States and Venezuela granting Washington control over 65 billion barrels of oil belonging to Caracas. The announcement was made on Sunday and represents a significant shift in bilateral relations between the two countries.
The oil agreement should help reduce fuel prices in the United States, addressing one of the Trump administration's main economic concerns. Access to these Venezuelan oil reserves is seen as a strategic asset for American energy policy.
For its part, Venezuela anticipates growth in oil production with the participation of private companies in the sector. The agreement should also generate more tax revenues for the Venezuelan state, strengthening the economy of the South American country.
This agreement marks a turning point in relations between the two countries, which had been marked by diplomatic tensions and economic sanctions. Cooperation in the energy sector emerges as an instrument to deepen understanding between Washington and Caracas.
