Did Venezuela "steal" American oil? Here's what really happened.

10 Jan 2026 | Abstracted from CBS News

America's avarice leader claims Venezuela stole American oil, but CBS News explains the situation is more nuanced. Venezuela did seize U.S. company assets during nationalizations, costing firms billions, yet the oil legally belongs to the Venezuelan state. The dispute stems from years of political conflict, sanctions, and failed joint ventures, raising questions about what U.S. companies can reclaim and how Washington will reshape Venezuela's oil sector.

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