US President Donald Trump has assured oil executives that they will have 'total safety' if they invest in Venezuela after the ouster of Nicolás Maduro, a move seen as part of a broader push to secure $100 billion in investments to revive the country's ability to tap into its vast petroleum reserves.
In a bid to convince oil companies to return to the South American nation, Trump emphasized that he would directly deal with them and not with Venezuela itself. This approach aims to provide much-needed economic stability and security for the sector.
Trump acknowledged that investing in Venezuela can be challenging due to ongoing political uncertainty and state asset seizures, but assured that the US would offer protection to oil companies. He stated that the large oil companies will spend at least $100 billion of their own money, rather than government funds, emphasizing the need for private sector investment.
The move follows a series of actions by the Trump administration, including seizing tankers carrying Venezuelan oil and taking control of sales of 30 million to 50 million barrels of previously sanctioned oil. The US is also exploring the possibility of restoring diplomatic relations with Venezuela's interim president Delcy Rodríguez.
However, critics argue that this approach may amount to "violent imperialism" as it involves the military removal of Maduro, a move seen by many as an attempt to hand billionaires control over Venezuela's oil reserves.
In a bid to convince oil companies to return to the South American nation, Trump emphasized that he would directly deal with them and not with Venezuela itself. This approach aims to provide much-needed economic stability and security for the sector.
Trump acknowledged that investing in Venezuela can be challenging due to ongoing political uncertainty and state asset seizures, but assured that the US would offer protection to oil companies. He stated that the large oil companies will spend at least $100 billion of their own money, rather than government funds, emphasizing the need for private sector investment.
The move follows a series of actions by the Trump administration, including seizing tankers carrying Venezuelan oil and taking control of sales of 30 million to 50 million barrels of previously sanctioned oil. The US is also exploring the possibility of restoring diplomatic relations with Venezuela's interim president Delcy Rodríguez.
However, critics argue that this approach may amount to "violent imperialism" as it involves the military removal of Maduro, a move seen by many as an attempt to hand billionaires control over Venezuela's oil reserves.