Trump Considers Multi-Year American Control Over Venezuelan Oil
The American president announces plans to maintain prolonged oversight of Venezuela and its oil production, citing a “profitable” reconstruction of the country and the import of 30 to 50 million barrels.
| Companies | OPEP |
|---|---|
| Sector | Pétrole |
| Theme | Politique & Géopolitique |
Donald Trump stated in an interview with the New York Times that the United States could maintain control over Venezuela for several years. When asked about a potential duration of three months, six months, or one year, the American president replied it would be “much longer.” “Only time will tell” how long Washington intends to maintain this oversight of Caracas, he specified.
A Strategy Focused on Oil Exploitation
The American president outlined his economic vision for Venezuela. “We’re going to rebuild the country very profitably,” he declared. Washington plans to use and import Venezuelan oil to lower global prices. Part of the revenues would be returned to Venezuela, which “desperately needs” it, according to Mr. Trump.
These statements came after administration officials indicated that the United States planned to take effective control of Venezuelan oil sales for an indefinite period, according to the New York Times. The Trump administration confirmed Wednesday its intention to “dictate” Venezuelan authorities’ decisions until further notice. Control over hydrocarbon commercialization lies at the heart of this strategy.
Between 30 and 50 Million Barrels Expected
On Tuesday evening, Donald Trump had announced that Venezuela would hand over “between 30 and 50 million barrels of oil” to the United States. “That oil will be sold at market prices and the money will be controlled by me,” he added. These volumes represent a fraction of the colossal reserves held by Caracas.
Venezuela holds the world’s largest proven oil reserves with more than 303 billion barrels, according to data from the Organization of the Petroleum Exporting Countries (OPEC). This oil wealth constitutes the central stake of American ambitions in the South American country. The effective duration of this control and its practical arrangements remain to be clarified.
