Democrats Slam Trump's Venezuela Oil Deal as Corruption

Democrats Slam Trump's Venezuela Oil Deal as Corruption

The News

Senate Democrats are accusing President Trump of putting American service members at risk for private profit after he announced a deal giving the United States majority control of a large slice of Venezuela's oil reserves.

Trump announced the agreement Friday on Truth Social, calling it the "BIGGEST OIL DEAL IN WORLD HISTORY."

Democrats on Capitol Hill said Friday and Saturday that the deal is not the victory the president claims. Republicans defended it, and Venezuela's acting leader welcomed it.

What the deal covers

According to The Hill, the transaction applies to roughly 21 percent of Venezuela's total proven oil reserves, which the U.S. Energy Information Administration puts at about 303 billion barrels.

In his Truth Social post, Trump said the agreement "MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity."

The Hill reported the deal follows the U.S. military's capture of Venezuelan President Nicolas Maduro earlier this year, and comes amid rising energy costs during the Iran war. Trump has repeatedly said he wants to expand U.S. investment in Venezuela's oil industry.

Timeline

Earlier this year

The U.S. military captures Venezuelan President Nicolas Maduro, per The Hill.

Friday, Aug. 28, 2026

Trump announces the deal on Truth Social, saying he has secured majority U.S. control of a large slice of Venezuela's oil reserves.

Saturday, Aug. 29, 2026

The Hill publishes Democratic reaction at 1:39 p.m. ET, updated at 2:41 p.m. ET. The New York Times and the Financial Times report backlash inside Venezuela the same day.

Reactions

Sen. Chris Van Hollen (D-Md.) wrote on X: "Let's be clear: this isn't a win." He added, "This is proof Trump put our service members at risk to get Venezuelan oil for his billionaire buddies. Putting our soldiers' lives on the line for private profit is a gross dereliction of his constitutional duty."

Sen. Tim Kaine (D-Va.), a member of the Senate Foreign Relations Committee, accused the president of using Maduro's ouster to "control Venezuelan oil." Kaine wrote: "Will prices come down for Americans? Who knows but likely not as much as Trump has forced them up thru his idiotic Iran War." He continued: "But here's a guarantee—this will pad the pockets of Trump family and Big Oil companies and delay transition to cleaner energy. Bottom line—Using our troops for a private oil grab is corruption at epic scale!"

Sen. Bernie Moreno (R-Ohio) hit back: "If it were up to DC Democrats, Maduro would still be in power, Venezuelan oil would be going to China at half price, and the people of Venezuela would be getting robbed by a corrupt regime. Instead, this historic deal benefits both countries for generations!"

Venezuela's acting leader, Delcy Rodriguez, called the deal a "historic milestone in bilateral relations between Venezuela and the U.S." She said: "These investments will contribute not only to the recovery and modernization of our industry, but also to our country's economic growth, the energy security of our hemisphere, and greater balance in international markets."

Inside Venezuela

The deal is drawing fire from both directions in Caracas. The Financial Times reported that Venezuela's opposition called the agreement with the Trump administration potentially illegal, while government hardliners cast it as a betrayal.

The New York Times reported that the handover of majority control over vast Venezuelan reserves strikes at the heart of the country's national identity, quoting the charge that it amounts to "a new form of U.S. colonialism."

What's Next

The terms of the transaction have not been published in full. Kaine sits on the Senate Foreign Relations Committee, which is the most likely venue for Democrats to press the administration for the deal's documents and legal basis.

Whether the agreement delivers the lower gas prices Trump promised will not be clear until the oil actually moves — and the opposition's claim in Caracas that the deal may be illegal leaves an open question about how it holds up under Venezuelan law.

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