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The United States has secured control of approximately 65 billion barrels of Venezuela's oil reserves through a 100-year concession agreement signed in September, representing over one-fifth of Venezuela's total reserves and positioning a U.S.-backed company as the world's second-largest private oil holder. The deal reflects a broader Trump administration strategy to reassert American dominance in the Western Hemisphere and secure energy independence by shifting global oil production toward the Americas and away from competitors like China and Russia.
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