World News Today Live Updates: Trump announces sweeping US grab for control of Venezuela’s vast oil reserves

Aug 29, 2026 04: 44 AM IST. US enters into oil agreement with Venezuela, Trump notes.

What happened

US President Donald Trump on Friday remarked the US had entered into an oil ⁠agreement with Venezuela.

"At my direction, Secretary of State Marco Rubio, and Secretary ⁠of War Pete Hegseth, working ‌closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a ⁠partnership ⁠with private business, have ⁠secured majority ‌US control of more ‌than 65 BILLION BARRELS ‌of proven Oil Reserves in Venezuela, at no cost to the ⁠American Taxpayer, " Trump wrote on Truth ‌Social.

🚨 "BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" – President Donald J. Trump 🇺🇸 pic.twitter.com/AsQqX3Y0sy. The White House (@WhiteHouse) August 28, 2026.

The bottom line

For now, world News Today Live Updates: Trump announces sweeping US grab for control remains the part of the story worth watching, and further updates are likely as more details are confirmed.