Trump Grants Pentagon Significant Influence Over Venezuelan Oil

The Wall Street Journal reported that U.S. President Donald Trump “struck an oil deal with Venezuela’s acting president a few days ago via a phone call, granting the Pentagon significant influence over the handling of Venezuelan oil.”

The Wall Street Journal, citing sources familiar with the talks between Washington and Caracas, said that Trump and Delcy Rodriguez agreed on the broad outlines of the deal during a phone call a few days before its official announcement.

Sources said the United States plans to acquire a 35% stake in the oil company North American Blue Energy Partners, with Washington obtaining a preferential right to purchase 20% of its output at cost. The U.S. Department of Defense intends to finance the investment through low-priced tradable bonds in exchange for a stake in the company.

A high-level delegation from the Pentagon and the State Department visited Venezuela in July to finalize the terms of the deal.