U.S. President Donald Trump announced on social media platform X on August 28 that the United States has entered into an agreement with Venezuela to secure majority control of more than 65 billion barrels of proven oil reserves, calling it "the biggest oil deal in world history" at no cost to American taxpayers.

Trump stated that under his direction, Secretary of State Marco Rubio and Secretary of War Pete Hegseth worked closely with "Highly Respected Interim President of Venezuela" Delcy Rodriguez, and through a partnership with private business, to complete the transaction. The President claimed the deal "more than doubles American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future," while helping Venezuela toward "Tremendous Success and Great Prosperity."

Trump concluded: "This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States! Thank you for your attention to this groundbreaking matter. MAKE AMERICA GREAT AGAIN!"