In a significant diplomatic shift, former US President Donald Trump announced on Friday that he has called off a planned second wave of military attacks against Venezuela. This decision comes as a direct response to conciliatory steps taken by the Venezuelan government and the prospect of a major economic partnership focused on the nation's vast energy resources.
From Confrontation to Cooperation
Trump revealed the policy reversal in a post on his Truth Social platform. He pointed to Caracas's move to free a significant number of political detainees as a pivotal "sign of 'Seeking Peace'." The former President described this gesture as "very important and smart." This development marks a notable thaw in relations, which had been severely strained for years over US sanctions and Washington's accusations of narcoterrorism against the Venezuelan leadership.
The backdrop to this announcement is a period of intense confrontation. On January 3, the United States executed a military operation in Venezuela that resulted in the ousting and capture of then-President Nicolás Maduro. Maduro was subsequently flown to New York to face federal narcotics charges.
The $100 Billion Oil and Gas Pivot
The core of the newly announced cooperation revolves around Venezuela's crippled oil and gas sector. Trump stated that the two nations are "working well together" on plans to rebuild this critical infrastructure on a much larger and more modern scale. He explicitly linked this economic focus to the decision to cancel further military action.
"Because of this cooperation, I have cancelled the previously expected second Wave of Attacks, which looks like it will not be needed," Trump wrote. He added a note of caution, stating that "all ships will stay in place for safety and security purposes."
The most eye-catching detail was the scale of proposed investment. Trump pledged that "at least $100 Billion will be invested by BIG OIL" in Venezuela. He noted that he would be meeting with representatives of these major oil companies at the White House later that same day. However, his statement did not specify which firms are involved or provide concrete details about the investment framework.
Analysts Urge Caution Amid Uncertainty
While the announcement signals a dramatic change in tone, industry and political analysts advise a measured response. They note that while US energy giants have long expressed interest in Venezuela's substantial oil reserves—the largest in the world—concrete investment plans remain shrouded in uncertainty.
The path forward is complicated by deep-seated political and legal complexities. Venezuela's internal political crisis, ongoing US sanctions frameworks, and questions about contractual legitimacy pose significant hurdles. The actual mobilization of such a colossal $100 billion investment would require navigating this intricate web of challenges.
Trump's announcement represents a sharp turn from a strategy of maximum pressure to one emphasizing economic engagement. The decision to halt military escalation in exchange for prisoner releases and potential energy deals underscores a pragmatic, deal-oriented approach. The world now watches to see if this declared cooperation can translate into tangible, peaceful outcomes and stability for the region.
