U.S. Secretary of State Marco Rubio called the oil deal between Washington and Caracas a “great victory for both the American people and the people of Venezuela,” and said the agreement shows that Donald Trump’s foreign policy, the approach of “America First,” has achievements.

Rubio added that the deal will bring nearly $100 billion in private investment for Venezuela, will support thousands of well-paid jobs, and will help rebuild the country’s economy.

Earlier, Trump called the deal “the biggest oil deal in the history of the world” on Truth Social and said that, with the participation of the private sector, the United States will make available the majority of more than 65 billion barrels of Venezuela’s proven oil reserves without imposing costs on American taxpayers.

Trump also said that this deal will more than double America’s oil reserves, increase oil supply, and, in the long term, help reduce gasoline prices for Americans.