US President Donald Trump has said the United States could “run” Venezuela and tap its vast oil reserves for years, offering his clearest signal yet that Washington’s oversight of the South American country would be long-term following the removal of Nicolás Maduro.“Only time will tell” how long the US would demand direct oversight, Trump told The New York Times. When pressed on whether that meant months or a year, he replied: “I would say much longer.”Trump reiterated that the US would take charge despite having no troops on the ground, saying Venezuela was cooperating fully.“They’re giving us everything that we feel is necessary,” he told the newspaper. The US leader also said he would like to travel to Venezuela at some point. “I think at some point it’ll be safe,” he added.The comments come days after US special forces captured Maduro and his wife, Cilia Flores, in a rapid operation and flew them to New York to face drug and weapons charges. The White House said the operation has given Washington unprecedented influence over the interim authorities in Caracas.“We obviously have maximum leverage over the interim authorities in Venezuela right now,” White House Press Secretary Karoline Leavitt said. “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,” Leavitt added.
Oil at the centre
Oil has emerged as the central pillar of Washington’s plan. Venezuela holds the world’s largest proven oil reserves, and Trump has said the US will oversee the sale of Venezuelan crude.Earlier this week, Trump announced plans for the US to sell between 30 million and 50 million barrels of Venezuelan oil at market rates, with the proceeds used to buy US-made products. “Venezuela is going to be purchasing ONLY American Made Products, with the money they receive,” Trump said, listing agriculture, machinery, medical devices and energy equipment.Vice President JD Vance underscored the approach, saying, “the way that we control Venezuela is we control the purse strings.”“We tell the regime, ‘you’re allowed to sell the oil so long as you serve America’s national interest,'” he told Fox News host Jesse Watters in an interview broadcast late Wednesday.While, energy secretary Chris Wright said the plan would go beyond clearing stored crude. “We’re going to market the crude coming out of Venezuela… and then indefinitely, going forward, we will sell the production that comes out of Venezuela,” he said.
Pushback from Caracas
Venezuela’s interim leader Delcy Rodríguez rejected claims of foreign rule, saying there was “no foreign power governing Caracas.” She described the US operation as a rupture in ties, adding: “There is a stain on our relations such as had never occurred in our history.”At the same time, Rodríguez sought to draw a distinction between politics and commerce, saying it was “not unusual or irregular” for Venezuela to trade with the United States. Caracas said on Wednesday that at least 100 people were killed and a similar number wounded during the US attack. Interior Minister Diosdado Cabello said those injured included Nicolás Maduro and his wife, Cilia Flores, although the couple were later seen walking unassisted during a court appearance in New York.
What comes next
After meeting sceptical lawmakers on Capitol Hill, US Secretary of State Marco Rubio said the administration was “not just winging it.” He outlined a second “recovery” phase in which US and Western companies would gain access to the Venezuelan market while “at the same time, begin to create the process of reconciliation nationally within Venezuela.”PDVSA reiterated that discussions were under way with the United States for the “sale of volumes of oil” within existing frameworks. But US officials have hinted at ambitions that go further.Energy Secretary Chris Wright said Washington planned to manage Venezuelan crude sales over the long term. “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,” he said.According to The Wall Street Journal, Trump and his advisers are also considering a plan to exert some control over PDVSA, a move that would give the US significant influence over oil reserves across the Western Hemisphere as it seeks to push prices down to around $50 a barrel.Trump is set to meet executives from major US oil companies on Friday, whom he has said will invest in Venezuela’s ageing energy infrastructure, even though no firm commitments have yet been announced.
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