The 18-page agreement lets the US buy 20% of the venture's oil at $30 a barrel, but the price leaves out the cost of the blending materials Venezuela's thick crude needs to flow. The text also gives a Venezuelan oligarch, Alejandro Betancourt, who has faced money-laundering investigations in three countries, control of the company's leadership, while Trump's "next century" claim rests on purchasing rights that expire in half that time.

— via Asia Times, Sebastian Rotella, Cate Brown, and Aaron C. Davis