US attack on Venezuela New regime

Task: US close to massive oil deal with Venezuela

The Trump administration is in talks with Venezuela's interim government about becoming a partner in the country's enormous oil resources, sources tell Axios.

It would more than double the US's oil reserves. Venezuela's reserves are the world's largest.

- To call this deal huge would be an understatement. It is massive, says one of the sources.

Discussions are underway about around twelve oil fields that together can produce 90 million barrels a day. In exchange for partnering, the US promises that American companies will develop extraction and pump more oil money into Venezuela.

The US's strategic oil reserves, which are being squeezed by the wars in Ukraine and Iran, are currently the smallest in 40 years.

Sources: US joins Swiss oil magnate indictment

The US has joined a Swiss investigation into Venezuelan oil magnate Alejandro Betancourt, whom it hired to gain control of Venezuela's oil industry, according to sources at the Washington Post.

The Americans have tried to pressure Switzerland to drop the indictment and have not extradited Betancourt despite a Swiss arrest warrant, according to the sources. Instead, the 46-year-old businessman, who owns Venezuela's second-largest oil company, has traveled in and out of the US for talks.

Betancourt has been investigated for money laundering several times in Switzerland, Spain and the US, but has not been charged.