Highlights

  • US claims indefinite control over Venezuela oil sales
  • Trump administration dictates decisions to interim leadership
  • Caracas rejects foreign rule after deadly US operation

Latest news

Investor Nicole Junkermann says India has Structural Advantage in Global Artificial Intelligence Race

Investor Nicole Junkermann says India has Structural Advantage in Global Artificial Intelligence Race

Punjab T10 Cricket League Rescheduled; Action to Now Take Place from June 14 to 20 in Amritsar

Punjab T10 Cricket League Rescheduled; Action to Now Take Place from June 14 to 20 in Amritsar

Quad to launch critical minerals framework to strengthen critical mineral supply chains in Indo-Pacific: US Secretary of State

Quad to launch critical minerals framework to strengthen critical mineral supply chains in Indo-Pacific: US Secretary of State

India Semiconductor Mission launches 'Investors Support' portal to assist Semiconductor Investors

India Semiconductor Mission launches 'Investors Support' portal to assist Semiconductor Investors

M416 Glacier Rewards Return in BGMI's Latest Redeem Code Reveal

M416 Glacier Rewards Return in BGMI's Latest Redeem Code Reveal

BTS returns to AMAs stage after four years with pre-taped 'Hooligan' performance

BTS returns to AMAs stage after four years with pre-taped 'Hooligan' performance

Decathlon's 'Sports Utsav 2026' Celebrates Movement, Engaging 200K+ Participants Across 125 Stores Pan-India

Decathlon's 'Sports Utsav 2026' Celebrates Movement, Engaging 200K+ Participants Across 125 Stores Pan-India

India, Canada push for early trade deal; PM Mark Carney calls CEPA 'Game Changer'

India, Canada push for early trade deal; PM Mark Carney calls CEPA 'Game Changer'

Trump administration asserts indefinite control over Venezuela oil

The Trump administration said it will dictate decisions to Venezuela’s interim leadership and control oil sales indefinitely after toppling Nicolas Maduro, escalating tensions over sovereignty and US dominance.

Trump administration asserts indefinite control over Venezuela oil

US President Donald Trump's administration said Wednesday it will dictate decisions to Venezuela's interim leaders and control the country's oil sales "indefinitely" after toppling Nicolas Maduro.

The United States could effectively run Venezuela and tap into its oil reserves for years, Trump later told the New York Times.

The American leader's assertion of US dominance over the oil-rich South American country comes despite its interim leader Delcy Rodriguez saying there is no foreign power governing Caracas.

"There is a stain on our relations such as had never occurred in our history," Rodriguez said about the US attack to depose her predecessor.

US special forces snatched president Maduro and his wife on Saturday in a lightning raid and whisked them to New York to face trial on drug and weapons charges, underscoring what Trump has called the "Donroe Doctine" of US dominance over its backyard.

"We obviously have maximum leverage over the interim authorities in Venezuela right now" following the capture operation, White House Press Secretary Karoline Leavitt told a briefing.

"We're continuing to be in close coordination with the interim authorities, and their decisions are going to continue to be dictated by the United States of America."

Trump has said the United States will "run" Venezuela, which has the world's largest proven oil reserves.

"They're giving us everything that we feel is necessary," Trump told the Times. "Don't forget, they took the oil from us years ago.

When asked if US control of the country would last three months, six months or a year, Trump told the paper: "I would say much longer."

But Washington has no boots on the ground, and appears to be relying on a naval blockade and the threat of further force to ensure the cooperation of the interim president.

Meanwhile Caracas announced Wednesday that at least 100 people were killed in the US attack and a similar number injured.

Among those hurt were Maduro and his wife Cilia Flores, Interior Minister Diosdado Cabello said.

The couple were seen walking on their own power during a New York court arraignment earlier this week.

According to Havana, the death toll includes 32 members of the Cuban military. Maduro, like his firebrand predecessor Hugo Chavez, employed specialized Cuban soldiers as bodyguards.


- 'Not just winging it' -

Trump's administration -- which has so far indicated it intends to stick with Rodriguez and sideline opposition figures, including Nobel Peace Prize winner Maria Corina Machado -- has given few details about its plans.

Secretary of State Marco Rubio insisted on Wednesday, after meeting lawmakers on Capitol Hill who have been critical about the post-Maduro planning, that the United States was "not just winging it."

But so far, the US plan relies heavily on what Trump said on Tuesday was an agreement for Venezuela to hand over between 30 million and 50 million barrels of oil to the United States for it to then sell.

Trump said Wednesday that under the deal Venezuela "is going to be purchasing ONLY American Made Products, with the money they receive" from the oil profits they receive.

That would include agricultural products, machinery, medical devices and energy equipment, he added.

Rubio said that in a second "recovery" phase, US and Western companies would have access to the Venezuelan market and "at the same time, begin to create the process of reconciliation nationally within Venezuela."

Venezuela's state oil firm said it was discussing oil sales with the United States for the "sale of volumes of oil" under existing commercial frameworks.

But Washington is looking at longer term control, according to Energy Secretary Chris Wright.

"We're going to market the crude coming out of Venezuela, first this backed-up stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela," Wright said Wednesday.


- 'Immense opportunity' -

Trump will on Friday meet executives from US oil companies, whom he has said will invest in Venezuela's crumbling facilities, despite no firm having yet made such pledges amid the turmoil in the country.

"It's just a meeting to discuss, obviously, the immense opportunity that is before these oil companies right now," Leavitt told reporters.

Trump also invited leftist Colombian President Gustavo Petro to meet at the White House "in the near future," after the two leaders had their first phone call Wednesday since Trump took office last year.

Washington moved further to stamp its authority on Venezuela when it seized two oil tankers, including a Russian-linked vessel that it pursued from Venezuela to the North Atlantic.

Moscow condemned the operation but Leavitt insisted the oil tanker had been "deemed stateless after flying a false flag."

ADVERTISEMENT

Up Next

Trump administration asserts indefinite control over Venezuela oil

Trump administration asserts indefinite control over Venezuela oil

PM Modi calls for peaceful resolution of conflicts in West Asia and Ukraine

PM Modi calls for peaceful resolution of conflicts in West Asia and Ukraine

Trump arrives in China for superpower summit with Xi Jinping

Trump arrives in China for superpower summit with Xi Jinping

Trump orders US military to 'shoot and kill' Iranian small boats choking Strait of Hormuz

Trump orders US military to 'shoot and kill' Iranian small boats choking Strait of Hormuz

India is a great country: Trump after controversial social media repost

India is a great country: Trump after controversial social media repost

Trump says Iran violated truce as doubt surrounds peace talks

Trump says Iran violated truce as doubt surrounds peace talks

ADVERTISEMENT

editorji-whatsApp

More videos

Iran says 'no decision' yet on joining new round of US peace talks

Iran says 'no decision' yet on joining new round of US peace talks

US to blockade Iran ports 'as long as it takes': Pentagon chief

US to blockade Iran ports 'as long as it takes': Pentagon chief

Israel vows to fight on as Iran warns ceasefire talks at risk

Israel vows to fight on as Iran warns ceasefire talks at risk

Trump says 'no enrichment' of uranium in Iran

Trump says 'no enrichment' of uranium in Iran

Pakistan to host US-Iran ceasefire talks on Friday

Pakistan to host US-Iran ceasefire talks on Friday

Iran hits Gulf states after agreeing 'fragile' truce with US

Iran hits Gulf states after agreeing 'fragile' truce with US

Trump warns 'whole civilization will die' in Iran if ultimatum expires

Trump warns 'whole civilization will die' in Iran if ultimatum expires

Trump threatens to destroy Iran oil island despite price surge

Trump threatens to destroy Iran oil island despite price surge

Rapper-turned-politician Balen Shah becomes Nepal’s youngest democratically elected PM

Rapper-turned-politician Balen Shah becomes Nepal’s youngest democratically elected PM

Iran warns civilians as Trump says talks 'going well'

Iran warns civilians as Trump says talks 'going well'

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.