United States President Donald Trump has indicated that American oil companies would be permitted to operate in Venezuela following a US military operation that led to the arrest of the country’s president, Nicolás Maduro.
Speaking at a press conference on Saturday, Trump said major US energy firms would be encouraged to invest heavily in Venezuela’s oil sector, with the aim of rehabilitating what he described as severely damaged infrastructure and reviving crude production.
According to the US president, American companies would inject billions of dollars into restoring oil facilities and begin commercial operations that, in his words, would generate revenue for Venezuela.
Despite the proposed involvement of US firms, Trump stressed that Washington’s embargo on Venezuelan oil exports remained in place. He said existing sanctions would continue to be enforced even as plans were made for future investment.
Trump also issued a warning to other political and military actors in Venezuela, suggesting they could face similar consequences to Maduro if they opposed US actions.
Venezuela has been subject to US oil sanctions since 2019 and currently produces an estimated one million barrels of crude oil per day. Much of its output is reportedly sold through informal channels at heavily discounted rates.
In the weeks preceding the operation against Caracas, the United States intensified military and economic pressure on the country, including the seizure of at least two oil tankers said to be in violation of US sanctions.
The US president accused Venezuelan authorities of using oil revenues to fund criminal activities, including drug trafficking, human trafficking, and violent crimes.
