PoliticsTrump bets on Venezuela’s oil to rebuild US influence in its own backyard

US President Donald Trump is turning Venezuela’s oil into a strategic asset, with the Pentagon holding a 35 percent stake in the venture and Chevron pledging $7bn to expand production. The White House presents the plan as a way to push Chinese and Russian influence out of the region, but questions remain over Venezuela’s ability to supply enough oil and whether the unusual deal can survive the country’s next political transition.

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