The White House disclosed a 100-year lease giving a private firm 17 Venezuelan oilfields with 65 billion barrels, while the US takes a 35% equity stake and 20% of output.

The deal could reshape global oil flows and test US sanctions policy, but critics see a giveaway of national assets.

The federal government's majority stake in a new joint venture makes it the world's second-largest holder of proven oil reserves, reshaping Washington's role in energy.

An unprecedented pact gives Washington oversight of Venezuela's vast oil reserves, a move the interim president says will revive the economy.

The surprise deal, brokered by Rubio and Hegseth, could reshape global oil markets - but key terms remain unclear.