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The Economic Times

National / The Economic Times

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U.S. to control Venezuela oil sales indefinitely, energy secretary says

The U.S. intends to maintain significant control over Venezuela's oil industry, overseeing sales indefinitely. Energy Secretary Chris Wright stated the U.S. will sell Venezuela's production, with President Trump announcing a deal for tens of millions of barrels. This move signals a sharp reversal of U.S. policy and sanctions on Venezuela.

7 Jan 2026 10:22 pm