Trump rejects Maduro's offer for U.S. stake in Venezuela's oil and mining

Venezuelan President Nicolás Maduro offered the Trump administration a significant stake in Venezuela"s oil and mining projects in an attempt to resolve ongoing tensions between the two countries. This offer, which included economic concessions, was made during months of discussions, according to sources familiar with the negotiations.

Maduro proposed to open all current and future oil and gold projects to U.S. companies, grant preferential contracts to U.S. firms, and reverse the flow of Venezuelan oil exports from China to the United States. Additionally, he suggested drastically reducing Venezuela"s energy and mining contracts with Chinese, Iranian, and Russian companies.

However, the Trump administration ultimately rejected these concessions and ceased diplomatic efforts with Venezuela last week, effectively nullifying the agreement for the time being, as reported by sources close to the discussions.

For related coverage, see recent developments in U.S. dealings with Venezuelan oil.

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