In a wide-ranging interview with The New York Times, US President Donald Trump said he expected the United States would be running Venezuela for years and drawing on its vast oil reserves. Trump said the aim was to “rebuild it in a very profitable way” and use Venezuelan oil to lower global prices while generating funds for both countries. His comments come as the Trump administration has pressed Venezuela’s interim leadership for an exclusive oil partnership and urged a shift away from ties with China, Russia, Iran and Cuba.
Trump Outlines Oil Plans
In the interview, Trump said: “We will rebuild it in a very profitable way. We’re going to be using oil, and we’re going to be taking oil. We’re getting oil prices down, and we’re going to be giving money to Venezuela, which they desperately need.” He suggested that the United States would oversee Venezuela’s oil production and infrastructure, tapping its reserves as part of post-intervention reconstruction efforts. Under Trump’s proposed framework, Venezuelan oil sales would be channelled through the United States, with the White House seeking to prioritise American buyers and direct revenues towards economic development.
Reports indicate that Washington has also asked interim Venezuelan President Delcy Rodríguez to enter into an exclusive oil partnership and reduce Caracas’s economic ties with China, Russia, Iran and Cuba, signalling an intensification of geopolitical pressure over energy and strategic alignments.
Geopolitical Context & Tensions
The reported US demands come amid broader efforts to assert influence over Venezuela’s energy sector following a dramatic shift in the country’s leadership and ongoing political instability. Washington has sought to secure up to 50 million barrels of Venezuelan crude for US refineries, drawing condemnation from foreign powers and raising concerns about regional sovereignty and international law.
Meanwhile, voices within Venezuela and abroad have offered differing interpretations of the evolving relationship, with some viewing closer US-Venezuelan economic ties as a path to stability and others warning of overreach and exploitation.