The White House is reporting that President Donald J Trump announced the United States has secured majority control of more than 65 billion barrels of proven oil reserves in Venezuela. It said this deal, facilitated by Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth with Venezuela’s Interim President Delcy Rodriguez, was achieved at no cost to American taxpayers. The administration stated the transaction more than doubles American oil reserves, increases domestic supply and is projected to substantially lower gas prices.
The White House also confirmed that the United States controls the Strait of Hormuz, following a naval blockade that resumed in July 2026. It said U.S. forces have cleared Iranian mines, turned away 75 vessels and facilitated nearly 1,500 commercial ships carrying 750 million barrels of crude oil. The administration reported that zero Iranian oil has been exported through the Strait since the blockade began, leading to an estimated $13 billion monthly revenue loss for Iran.
President Trump signed an executive order establishing a Presidential Commission to design the United States Space Academy, a new NASA-led federal institution. The White House said this academy, modeled after military service academies, will prepare Americans for careers in military, civilian and commercial space enterprises, supporting the administration’s goal of over 1,000 annual space launches by 2030.
On Aug. 26, President Trump declared a national emergency to secure the U.S. bulk-power system from foreign sabotage, invoking the International Emergency Economic Powers Act. The order generally prohibits foreign-produced bulk-power equipment and associated software, directing the Secretary of Energy to publish implementing rules.
Also on Aug. 26, President Trump signed a proclamation to temporarily expand lean beef trimmings imports at lower tariff rates for 90 days, effective Sept. 1. The measure caps imports at 100,000 tons per month to reduce ground beef prices amid supply shortages, as American cattle herds are at their lowest level in 75 years.
Immigration enforcement reached new heights, with Immigration and Customs Enforcement making nearly 50,000 arrests in July, the highest monthly total of President Trump’s second term. The White House reported southern border apprehensions have fallen 94% below "Biden-era" monthly averages. The State Department is moving forward with what officials describe as the largest mass visa revocation in American history, targeting up to 200,000 foreign nationals. Additionally, the State Department publicly revealed that Portland Antifa groups have direct connections to Hamas and Iran’s Islamic Revolutionary Guard Corps, triggering a broad terrorism designation.
In other news, the General Services Administration disclosed more than $13 billion in suspected fraud involving approximately 1,000 federal contractors. President Trump signed an executive order on Aug. 27 renaming Lake Ontario to Lake America, directing the Secretary of the Interior to update all federal references within 30 days. Karoline Leavitt completed her final day as White House Press Secretary on Aug. 27, with President Trump praising her tenure.