US Weighs Major Stake in Venezuelan Oil via Pentagon-Betancourt Tie-Up

Washington is reportedly exploring a major stake in Venezuela's vast oil reserves through a potential partnership between the US Department of Defense and businessman Alejandro Betancourt, according to a Bloomberg News report on Wednesday.

The proposed arrangement would mark a significant move by the United States to secure access to one of the world's largest proven oil deposits, which have been largely off-limits to American companies due to sanctions and political tensions with the Venezuelan government.

Details of the potential partnership remain scarce, including the size of the stake under discussion, the terms of any agreement, and the specific role the Defense Department would play in an oil-related venture. Betancourt, a Venezuelan entrepreneur with international business interests, has not publicly commented on the report.

The report comes amid shifting dynamics in global energy markets, where major powers are competing for influence over hydrocarbon resources. A US-backed entry into Venezuelan oil would carry significant geopolitical implications, potentially reshaping the balance of power in the region and affecting global supply chains.

Neither the Pentagon nor the State Department has issued an official response to the Bloomberg report. The story is developing, and further details are expected to emerge as discussions progress.