Betancourt has been investigated for money laundering in the US, Spain, and Switzerland, and DOJ officials reportedly asked foreign governments to close those probes. The deal is designed to prevent future US presidents or Venezuelan leaders from overturning the arrangement, as the administration seeks to revive Venezuela's oil sector to lower gas prices spiked by the war with Iran.
Saturday, October 24, 2026
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Trump Administration Bought 35% of Venezuelan Oil Firm for a Penny a Share
Commodities11 hours ago
A secret agreement signed by Pete Hegseth and Marco Rubio identifies the terms of a US energy deal with a Venezuelan firm producing about 200,000 barrels of oil a day. The 18 page contract shows the Trump administration acquired a 35% stake in the producer for a penny per share. The company is registered as a Barbados shell entity and is managed by Alejandro Betancourt.
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