Trump Announces Immediate Initiation of Strategic Reserve Replenishment, Officially Takes Control of Venezuela's 65 Billion Barrels of Oil

U.S. President Donald Trump officially announced on August 30 that the United States has reached a major energy agreement with Venezuela, successfully securing control over more than 65 billion barrels of proven oil reserves in the country. Trump stated that this move will significantly expand America's oil reserves and directly replenish the Strategic Petroleum Reserve (SPR), which has been nearing depletion.

Trump emphasized via social media that this cooperation demonstrates his determination to correct policy failures during former President Biden's administration. He specifically noted that the U.S. Strategic Petroleum Reserve was nearly exhausted under Biden's leadership, and through this 'gift' from Venezuela to the American people, the U.S. will immediately initiate the process of fully replenishing its strategic reserves. According to the BBC and other international media reports, Trump previously stated that the agreement would more than double the total U.S. oil reserves and significantly reduce gasoline retail prices nationwide over the long term.

Delcy Rodríguez, Venezuela's interim president, confirmed the signing of the energy cooperation deal in a televised address on the evening of August 29. She stated that the agreement will serve as a core engine for revitalizing Venezuela's domestic economy and confirmed that the cooperation treaty will remain valid for 25 years.

The background of this breakthrough agreement stems from U.S. military action in January, when former Venezuelan President Nicolás Maduro was arrested and transferred to New York to face federal drug trafficking charges. Following Maduro's arrest, the U.S. fully supported Vice President Rodríguez as the interim leader, and Trump subsequently expressed strong intent to take control of and develop Venezuela's vast oil reserves—the largest in the world.

Regarding the specific equity and operational structure, a U.S. government official told CBS News that the U.S. will form a joint venture with 'experienced Venezuelan private operators.' In this joint venture, the U.S. government will directly hold a dominant 55% controlling stake.