US secures direct stake in Venezuelan oil fields to counter China and Russia, impacting global energy dynamics

Washington has finalised a strategic agreement giving the United States a direct ownership stake in Venezuelan oil fields, previously influenced by Chinese and Russian corporations. Executed through the Pentagon's Office of Strategic Capital and partnered with a private operating firm linked to Venezuelan businessman Alejandro Betancourt, the deal secures long-term US energy supplies, allows crude purchases at cost, and aims to anchor a Western Hemisphere-aligned economy in Venezuela. The block had previously been under Chinese and Russian corporate influence and holds an estimated 65 billion barrels of proven reserves, a fraction, officials…