The Trump administration has declared its intention to exert control over Venezuela's lucrative oil sales "indefinitely," as part of a bold strategy to reshape the South American nation's political landscape and secure its vast energy resources for American companies.
Trump's Bold Claim on Venezuelan Crude
In a significant announcement made on Tuesday night, 7 January 2026, via his Truth Social platform, President Donald Trump stated that Venezuela's interim government would be transferring between 30 and 50 million barrels of "high quality" oil to the United States. This shipment, valued at over $2 billion (£1.48bn), is to be transported directly from Venezuelan storage to US unloading docks.
Crucially, President Trump added that the oil would be sold at market price and that the substantial revenue generated would be under his personal control. This move follows a dramatic US military raid in Caracas that led to the capture and arrest of Venezuela's president, Nicolas Maduro.
White House Strategy and Global Repercussions
Energy Secretary Chris Wright, tasked with executing the plan, elaborated at an industry conference in Florida. "We need to have that leverage and that control of those oil sales to drive the changes that simply must happen in Venezuela," he stated, framing the control as essential for political reform.
The administration's ambitions have already triggered international incidents, inflaming tensions with major powers. US authorities have seized two tankers linked to Venezuelan oil:
- The empty, Russian-flagged Marinera in the north Atlantic for "sanctions violations."
- The Sophia, a "dark fleet" tanker apparently bound for China, in the Caribbean Sea.
These seizures underscore the escalating geopolitical struggle over Venezuela's resources. Concurrently, White House sources indicated to Sky's US partner CNBC that US sanctions governing Venezuelan oil flows could be relaxed, potentially clearing the way for American investment.
Opening the Door for US Oil Giants
In a clear signal to the industry, the White House confirmed President Trump will meet with executives from US oil companies on Friday, 9 January, to discuss investment opportunities in Venezuela. Reports suggest bosses may visit as early as Thursday.
President Trump has suggested US firms could be operational in Venezuela within 18 months, threatening further military intervention if the interim regime does not cooperate. Currently, Chevron is the sole US multinational operating there. Others, like Exxon Mobil and ConocoPhillips, left after the industry was nationalised by the late Hugo Chavez.
The prize is immense: Venezuela sits on the world's largest reserves of heavy oil, surpassing even Canada and Russia. This latest push follows last month's actions where the US blocked tankers from leaving Venezuela and seized several in international waters to enforce sanctions.
Venezuela's newly sworn-in acting president, Delcy Rodriguez, insisted in a televised address that "no external agent" governs the country. The Pentagon reported at least seven injured US service members during the Caracas raid, while Venezuela's military said at least 24 of its officers were killed.
