In a significant development, US President Donald Trump has stated that Washington is collaborating effectively with the new leadership in Venezuela, following the capture of former President Nicolas Maduro by American forces. The remarks came during a conversation with reporters aboard Air Force One on Sunday, where Trump highlighted a major oil transaction as a sign of this cooperation.
A Multi-Billion Dollar Oil Agreement
President Trump revealed that the acting President of Venezuela, Delcy Rodriguez, directly requested the United States to take 50 million barrels of oil. "I said, 'yes, we can' — that's $4.2 billion, and it's on its way right now to the United States," Trump declared, underscoring the enormous scale of the immediate deal. This move is part of a broader Trump administration strategy aimed at claiming control over Venezuela's crucial oil production and global sales.
US Pushes for $100 Billion Private Investment in Venezuelan Oil
The oil deal follows a recent White House meeting where President Trump invited top oil executives and pressed them to invest swiftly in Venezuela. The administration is seeking around $100 billion in private investment to revive the country's crippled oil industry and fully exploit its vast reserves. Trump assured the executives of "total safety," emphasising that they would be dealing directly with the US government, not with Venezuelan entities. "Our giant oil companies will be spending at least $100 billion of their money, not the government's money. They don't need government money. But they need government protection," Trump said.
He explained that security assurances would primarily come through cooperation with Venezuelan leaders and their people, rather than a large-scale deployment of US troops, though he noted companies might "bring over some security." Trump acknowledged the inherent risks, pointing out that oil companies are familiar with operating in difficult environments, even as Venezuela remains economically vulnerable.
Seizure of Tankers and Control Over Sales
To solidify its grip, the US has actively seized tankers carrying Venezuelan oil. Trump confirmed that Washington had taken control of these vessels and would now manage the sale of between 30 million and 50 million barrels of oil that were previously under sanctions. The US will control these sales globally for an indefinite period. This aggressive posture was demonstrated just before the White House meeting, as US forces seized a fifth tanker linked to Venezuelan oil in the past month, signalling a determined effort to commandeer the nation's oil exports, refining, and production.
The administration's actions mark a profound shift in US involvement in Venezuela's key economic sector, as it leverages the political change to secure firm investment commitments from international private companies, fundamentally altering the dynamics of the global oil market related to Venezuelan crude.
