According to CoinMeta, as reported by Axios, the Trump administration is in negotiations with Venezuela's interim government to seek ownership rights to some of the country's oil fields. The agreement involves more than a dozen oil fields with production capacity, rather than Venezuela's total proven oil reserves of about 300 billion barrels. An official described it as "a huge deal that is often downplayed in its importance." In exchange for granting U.S. ownership rights, private companies, including American firms, will participate in the development of these oil fields, increasing production and bringing more oil revenue to Venezuela. The negotiations are primarily led by U.S. Secretary of State Mike Pompeo and Venezuela's acting president, Delcy Rodríguez. The conflicts between Iran and Ukraine have disrupted global oil supply and pushed up oil prices, adding pressure to reach an agreement as soon as possible. The current timeline for finalizing the agreement is not yet clear, but U.S. Energy Secretary Rick Perry is discussing a visit to Venezuela next week.