Venezuela hands the US control over a fifth of its oil in landmark deal

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Venezuela hands the US control over a fifth of its oil in landmark deal  Venezuela's parliament has approved handing the US control of a fifth of its oil reserves, cementing Washington's grip on a government it helped install after toppling President Nicolas Maduro in January.  READ MORE : http://www.euronews.com/2026/09/02/venezuela-hands-the-us-control-over-a-fifth-of-its-oil-in-landmark-deal  Subscribe to our channel. Euronews is available on Dailymotion in 12 languages

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00:02Venezuela's parliament approved the deal on Tuesday handing the United States control of

00:06about one-fifth of its oil reserves, cementing Washington's grip on a government it helped

00:11install after toppling President Nicolas Maduro in January. Trump defended the multi-billion

00:17dollar agreement on Tuesday, saying it would lower spiraling oil prices for Americans caused

00:22by the war in Iran, as well as counter Russian and Chinese influence.

00:27U.S. Energy Secretary Chris Wright arrived in the capital Caracas on Tuesday night ahead of a

00:33planned signing ceremony on Wednesday. U.S. oil giants, including Chevron,

00:38are expected to announce major expansions in Venezuela after the deal.

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