U.S. Democratic lawmakers question the legality of the Pentagon's plan to invest in a Venezuelan oil company
2026-10-01 09:30:54
CoinMeta US stock news: According to The Wall Street Journal, Democratic senators in the U.S. Senate are questioning the legality and prudence of the Pentagon's plan to invest in a Venezuelan oil company. Four senior Democratic senators stated in a letter to senior Trump aides that there are legal uncertainties regarding the Pentagon's proposed investment in North American Blue Energy Partners Company (_nabep), and that this move undermines Venezuela's efforts to promote democratic transformation. In early September, the U.S. announced a plan for the Pentagon to passively hold a 35% stake in nabep, which will gain control over 17 oil field blocks associated with Venezuela's second-largest oil producer, containing approximately 65 billion barrels of oil reserves. As part of this arrangement, the U.S. State Department will have the option to purchase 20% of the production at cost. The senators are requesting that the Trump administration make public the terms and conditions of the agreement before it is finalized, and to explain why the Strategic Capital Office of the Pentagon can be used to acquire equity in a foreign oil company, as well as how the U.S. State Department will cover the costs of producing oil from this company.
Source:The Wall Street Journal
This content is for market information only and does not constitute investment advice.
Follow WalletJYS official accounts to stay updated

Hot Articles
Refresh

Bitcoin October 2026 Outlook: Can the 19% Historical Gain Hold?
09-30 12:57

Dogecoin Price: Whales Buy $112M, Can DOGE Break $0.10?
09-29 12:48

What is Solidigm? Is Its $150B IPO Valuation a Bubble?
09-28 13:00

Is PAXG Stable? Is Gold-Backed Better Than Stablecoins?
09-24 18:04

ETH Rebounds to $2,800: Can It Hold $3,200 by Month-End?
09-23 11:07



