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Iran War Turmoil Drives US Push for Venezuela Oil Deal: Reports

© AP Photo / Alex BrandonU.S. President Donald Trump meets with Ukraine's President Volodymyr Zelensky on the sidelines of the NATO summit in Ankara, Turkey, Wednesday, July 8, 2026. (
U.S. President Donald Trump meets with Ukraine's President Volodymyr Zelensky on the sidelines of the NATO summit in Ankara, Turkey, Wednesday, July 8, 2026. ( - Sputnik India, 1920, 30.08.2026
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US President Donald Trump has been forced to speed up oil deal talks with Venezuela due to the protracted conflict with Iran and upcoming midterm elections to Congress, The Wall Street Journal reported, citing sources familiar with the matter.
The Trump administration reportedly hurried to announce on Friday that the United States had secured a lasting source of crude oil in the Western Hemisphere as the unpopular war with Iran continued to squeeze global energy supplies.
The deal with Venezuela is necessary for Trump as a way to score a political win and shield Americans from the consequences of the Middle East conflict ahead of November's midterm elections, the WSJ reported.
Trump estimated that the US-Venezuela oil deal "more than doubles" American oil reserves, securing majority control of over 65 billion barrels of proven oil reserves.
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