Sunday, August 30, 2026

PENTAGON DENIES TAKING EQUITY STAKES IN PRIVATE FIRMS, CONTRADICTING REPORTS OF U.S. OIL DEAL WITH VENEZUELAN BUSINESSMAN

The Pentagon has denied it takes equity stakes in private companies, contradicting a Wall Street Journal report that the United States plans a thirty-five per cent stake in a Venezuelan businessman's energy firm as part of a sweeping oil deal.

US President Donald Trump announced on Friday that Washington had secured majority control of more than sixty-five billion barrels of Venezuelan proven oil reserves through a new joint venture — a deal he called a huge win for both countries.

Critics say the arrangement amounts to exploitation of a country whose government was installed by a US military intervention nine months ago.

Jorge Martin, secretary of the Hands Off Venezuela campaign group.

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Jorge Martin of the Hands Off Venezuela campaign group says the proceeds of Venezuelan oil sales are deposited in a US Treasury-controlled account with little public accountability.

IN: “The money from...”
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Jorge Martin of the Hands Off Venezuela campaign group says a Venezuelan official has revealed that Washington charged Caracas billions of dollars to cover the cost of the military intervention.

IN: “Recently, a Venezuelan...”
OUT: “...the United States.”
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