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According to the newspaper, two US officials indicated that the Trump administration is negotiating with Venezuela's interim government to obtain a share in the nation's extensive oil reserves.
"Describing this deal as significant would be an understatement. It's enormous," one of the officials stated.
The parties are continuing to finalize the specifics of a possible agreement, with talks addressing over a dozen Venezuelan fields that have verified reserves totaling 90 billion barrels. Axios observes that some of these resources were formerly managed by China.
The period in which Washington and Caracas could reach an agreement is uncertain.
Principal negotiators include US Secretary of State Marco Rubio and interim Venezuelan President Delcy Rodriguez, with White House Deputy Chief of Staff Stephen Miller also playing an important part.
In July, top officials from the State Department and Pentagon held talks with Venezuelan officials in Caracas to go over the specific details of the agreement. US Energy Secretary Chris Wright might visit Venezuela next week for additional discussions.
In return for granting the US access to the property, the Venezuelan government is anticipated to gain from collaborations with private firms, including those from America, and receive higher income from oil sales. Nevertheless, Washington worries that this might give the impression that the Venezuelan government is relinquishing resources to the US. A source from the portal stated, "We will do everything possible to show how this helps the Venezuelan people, as it genuinely does."
source: axios.com
"Describing this deal as significant would be an understatement. It's enormous," one of the officials stated.
The parties are continuing to finalize the specifics of a possible agreement, with talks addressing over a dozen Venezuelan fields that have verified reserves totaling 90 billion barrels. Axios observes that some of these resources were formerly managed by China.
The period in which Washington and Caracas could reach an agreement is uncertain.
Principal negotiators include US Secretary of State Marco Rubio and interim Venezuelan President Delcy Rodriguez, with White House Deputy Chief of Staff Stephen Miller also playing an important part.
In July, top officials from the State Department and Pentagon held talks with Venezuelan officials in Caracas to go over the specific details of the agreement. US Energy Secretary Chris Wright might visit Venezuela next week for additional discussions.
In return for granting the US access to the property, the Venezuelan government is anticipated to gain from collaborations with private firms, including those from America, and receive higher income from oil sales. Nevertheless, Washington worries that this might give the impression that the Venezuelan government is relinquishing resources to the US. A source from the portal stated, "We will do everything possible to show how this helps the Venezuelan people, as it genuinely does."
source: axios.com