Energy Secretary Chris Wright stated on Sunday that the United States continues to hold substantial leverage over Venezuela, despite a recent agreement between the Trump administration and the Venezuelan government. The deal reportedly grants Venezuela control over more than 65 billion barrels of oil reserves.

According to Wright, the U.S. maintains this leverage because it effectively controls the sale of Venezuelan oil to international markets. While the administration has moved forward with this agreement to transfer control of these vast oil assets, Wright emphasized that the U.S. remains in a position of influence regarding the country's energy exports. The announcement highlights a shift in the administration's approach to the South American nation, focusing on the management of oil resources rather than previous policies of total isolation or sanctions.

There is limited information regarding the specific conditions or long-term strategic goals attached to this transfer of control. While the administration frames the move as one that preserves U.S. leverage, critics and international observers have yet to weigh in on how this deal might impact global oil prices or the internal political stability of Venezuela. The administration has not yet released the full text of the agreement, leaving the exact mechanisms of how the U.S. intends to maintain control over these oil sales unclear.