EconomyLens.com
No Result
View All Result
Thursday, January 8, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US could run Venezuela, tap its oil for years, Trump says

Emma Reilly by Emma Reilly
January 8, 2026
in Economy
Reading Time: 8 mins read
A A
0
19
SHARES
235
VIEWS
Share on FacebookShare on Twitter

US President Donald Trump and Venezuelan interim president Delcy Rodriguez . ©AFP

Washington (United States) (AFP) – The United States could run Venezuela and tap into its oil reserves for years, President Donald Trump said in an interview published Thursday, less than a week after toppling Nicolas Maduro. “Only time will tell” how long Washington would demand direct oversight of the South American country, Trump told The New York Times. But when asked whether that meant three months, six months, or a year, he replied: “I would say much longer.”

Related

US trade gap shrinks to smallest since 2009 as imports fall

‘Sign of life’: defence boom lifts German factory orders

Farmers enter Paris on tractors to rage against trade deal

France halts imports of food with traces of banned pesticides

France halts imports of food with traces of banned pesticides

His assertion of US dominance over Venezuela 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 of the US attack to depose her predecessor. US special forces snatched president Maduro and his wife 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 Doctrine” 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 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.” 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.

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 Rodriguez’s cooperation.

Caracas announced on Wednesday that at least 100 people had been killed in the US attack and a similar number wounded. Among those hurt were Maduro and his wife Cilia Flores, Interior Minister Diosdado Cabello said, though the couple were seen walking unassisted during a New York court appearance 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.

Trump’s administration has so far indicated it intends to stick with Rodriguez and sideline opposition figures, including Nobel Peace Prize winner Maria Corina Machado. But it has given few details about its plans. Secretary of State Marco Rubio insisted on Wednesday, after meeting lawmakers on Capitol Hill critical of 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. 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 PDVSA 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.

Trump and his advisors are considering a plan for the US to exert some control over PDVSA, the Wall Street Journal reported. The US would then have a hand in controlling most of the oil reserves in the Western Hemisphere, as Trump aims to drive oil prices down to $50 a barrel, the paper reported. Trump will 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.

© 2024 AFP

Tags: Donald Trumpoil industryVenezuela
Share8Tweet5Share1Pin2Send
Previous Post

Stocks retrench as traders eye geopolitics, US jobs data

Next Post

US trade gap shrinks to smallest since 2009 as imports fall

Emma Reilly

Emma Reilly

Related Posts

Economy

US seizes Russia-linked oil tanker chased to North Atlantic

January 7, 2026
Economy

US private sector hiring rebounds in December but misses expectations

January 7, 2026
Economy

US attempts to seize Russia-flagged oil tanker in Atlantic

January 7, 2026
Economy

US car market expected to moderate in 2026

January 7, 2026
Economy

UK electric car sales hit record high in 2025: industry

January 6, 2026
Economy

EV sales rebound in Germany as Chinese brands make inroads

January 6, 2026
Next Post

US trade gap shrinks to smallest since 2009 as imports fall

Confusion reigns over Venezuela's oil industry as US looms

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

81

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US trade gap shrinks to smallest since 2009 as imports fall

January 8, 2026

US could run Venezuela, tap its oil for years, Trump says

January 8, 2026

Stocks retrench as traders eye geopolitics, US jobs data

January 8, 2026

Startups go public in litmus test for Chinese AI

January 8, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.