In a recent interview, former U.S. President Donald Trump declared that the United States has secured extensive cooperation from Venezuela’s new interim leadership and plans to steer that nation’s oil industry for years to come. Trump’s comments mark a significant shift in U.S.–Venezuela relations and underline Washington’s intention to exercise lasting influence over one of the world’s largest crude oil reserves.
U.S. to Steer Venezuelan Oil Sector Long-Term
Trump said that following the ousting of Nicolás Maduro, the U.S. will continue to oversee Venezuela’s oil production and sales, potentially for an extended period. He noted that cooperation with interim president Delcy Rodríguez—once a close ally of Maduro—has been “productive” and that Venezuela has agreed to provide oil supplies to the United States.
Senior administration officials have outlined plans for Washington to manage Venezuela’s oil exports and hold proceeds in U.S.-controlled accounts. This strategy, they say, aims to revitalise the beleaguered oil sector while ensuring revenues are used transparently and to support economic recovery.
Strategic and Economic Impact
The initiative to control Venezuelan oil has broad geopolitical implications. By directing how crude is sold and how the income is allocated, the United States could gain significant leverage in global energy markets. U.S. officials have suggested that a portion of the oil will be sold at market prices, with the financial returns overseen by American authorities to prevent corruption and support stability.
Meanwhile, Trump has acknowledged discussions with major U.S. energy companies on investing in Venezuela’s ageing oil infrastructure, a move that could accelerate output growth but also carries financial risk given the country’s history of economic turmoil.
Domestic and International Reactions
The evolving U.S. role in Venezuela has sparked debate among U.S. lawmakers and global policymakers. Some critics argue that extensive control over Venezuelan resources mirrors past interventions in other regions and could entangle the United States in long-term commitments abroad. Others defend the approach as a necessary step to stabilise Venezuela and secure energy interests.
