For the White House, the talks are a demonstration of its commitment to democracy even as it pursues its economic ambitions. On Friday, Trump announced that Venezuela had agreed to give the U.S. majority-control of about a third of its proven oil reserves, which he described on social media as a “partnership with private business.”

The United States entered a deal to take majority ownership in a joint oil venture with a Venezuelan energy company. It could be a game-changer in the long run.

President Donald Trump announced that the United States has struck a landmark Venezuela oil deal, claiming majority US control of 65 billion barrels of proven oil reserves