Venezuela, US sign 25-year energy deal granting major oil access

Venezuela and the United States have announced a sweeping 25-year energy agreement that grants American interests significant access to the South American nation's vast oil reserves, a deal hailed by President Donald Trump as historic but met with domestic skepticism and questions over its legal and economic terms. The announcement, made in separate statements on Friday, August 28, and Saturday, August 29, 2026, outlines a partnership aimed at revitalizing Venezuela's crippled oil industry while securing new supplies for the United States.