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Pentagon office backs Venezuela oil deal amid administration shift

The Defense Department’s Office of Strategic Capital, created to support U.S. defense industry lending, is helping lead the oil transaction involving Venezuela.

Reported · Written up by our desk · Trade & Tariffs

The New York Times Business reports that the Pentagon is getting involved in a Venezuelan oil deal connected to President Trump.

According to the report, the Defense Department’s Office of Strategic Capital, which was founded by the Biden administration to provide loans aimed at strengthening the U.S. defense industry, is helping drive the effort.

The article says the office is taking a leading role as the Trump administration moves forward with the oil transaction.

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