NEW YORK, November 16. /TASS/. Venezuelan President Nicolas Maduro has offered the US administration control over the majority of his country’s oil reserves, The New York Times (NYT) wrote.

According to the report, the Venezuelan leader made the offer in the hope of averting his country’s military confrontation with the United States.

The newspaper’s sources said US President Donald Trump had rejected the invitation to negotiate, but the offer still remains on the table. The ongoing US military buildup off the coast of Venezuela is said to provide Washington with additional leverage over Maduro.

Trump said on Friday he had made up his mind about his country’s future actions with regard to Venezuela, but gave no details. However, he acknowledged that his country has made big progress with regard to drug trafficking.

Earlier, US War Secretary Pete Hegseth announced the launch of Operation Southern Spear to combat drug cartels in Venezuela. According to Washington, the country is not doing enough to combat drug smuggling. The New York Times previously reported that President Donald Trump authorized the CIA to conduct covert operations in Venezuela.

US media outlets have repeatedly reported that the US may soon begin striking drug cartel targets in Venezuela. However, on October 31, Trump stated that he was not considering strikes on Venezuelan territory.