US Secretary of State: Oil Agreement Will Bring $100 Billion in Private Investment to Venezuela

Washington, Aug 28 (KUNA) – U.S. Secretary of State Marco Rubio said on Friday that the “historic” oil agreement signed between the United States and Venezuela will bring $100 billion in private investment to the latter. This marked the first comment by the U.S. Secretary of State on the oil deal, which President Donald Trump announced earlier on the same day, describing it as “the largest oil deal in history.” Rubio stated that the agreement represents a “huge win” for both the American and Venezuelan peoples, as it will provide Venezuelans with approximately $100 billion in private investment, support thousands of high-paying jobs, and accelerate economic reconstruction. He added that the deal “demonstrates how President Trump’s bold foreign policy drives gains under the ‘America First’ principle, by securing stable reserves and low-cost oil in our hemisphere and lowering fuel prices domestically.” Earlier on Friday, Trump announced that his country had signed an oil agreement with Venezuela that he described as the “largest” in history, noting that it would ensure what he termed U.S. “control” over Venezuela’s oil reserves. (End) A.M.M./R.J.