The Defense Department’s Office of Strategic Capital, founded by the Biden administration to give loans to bolster the U.S. defense industry, is helping lead President Trump’s oil deal.
President Trump said his defense secretary and secretary of state reached an agreement with the Venezuelan government on securing billions of barrels of oil reserves “through a partnership with private business.”
Vessels near the Strait of Hormuz seen from Musandam, Oman, on Monday. The strait has been under constant threat since the United States and Israel launched a combined assault against Iran on Feb. 28.
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