US President Donald Trump said he had called off a planned second wave of military action against Venezuela, citing cooperation between the two countries, including the release of political prisoners and joint efforts to rebuild oil infrastructure.
In a post on Truth Social, Trump said at least $100 billion would be invested in Venezuela by major oil companies.
He added that Venezuelan authorities had agreed to provide the US with up to 50 million barrels of oil, with revenues controlled by Washington.
Following a US military operation that led to the capture of President Nicolas Maduro and his wife, Trump has shifted focus to reviving Venezuela’s energy sector.
While Venezuela holds the world’s largest proven oil reserves, its production remains sharply limited due to sanctions and infrastructure collapse.
