Trump Seizes Venezuelan Oil in $3 Billion Deal

President Donald Trump has struck a deal with Venezuela’s opposition government. The plan would transfer control of the state oil company’s U.S. assets. The assets are worth an estimated $3 billion. They include the parent company of the Citgo gasoline chain and millions of barrels of oil. The agreement is with opposition leader Juan Guaidó. The U.S. recognizes Guaidó as Venezuela’s legitimate president, not current leader Nicolás Maduro. Analysts say the move is a major blow to the Maduro government and its allies. Venezuela’s oil revenue currently supports the regime and repays loans from countries like China, Russia, and Iran. It also funds support from Cuba. By seizing these assets, the U.S. aims to cut off this financial lifeline. The goal is to increase pressure on Maduro to leave power. The legal and practical steps to complete the transfer remain complex. Maduro still controls Venezuela’s territory and its main oil operations.