Venezuela’s parliament has approved a deal granting the United States access to 20% of the nation’s proven oil reserves. The agreement, hailed by former US President Donald Trump as “the largest deal in world history,” was announced by Jorge Rodríguez, speaker of Venezuela’s National Assembly. Details of the contract remain largely undisclosed, but it signifies a substantial shift in the energy landscape between the two countries. This move potentially circumvents sanctions previously imposed on Venezuela’s oil industry. The agreement is expected to bolster US energy supplies and potentially provide economic relief for Venezuela. It remains to be seen how this deal will impact global oil markets and international relations. Further analysis of the contractual terms is anticipated in the coming days.