Trump announces US oil firms can operate in Venezuela post-Maduro, aiming to revitalize the country's oil infrastructure despite ongoing sanctions.
President Donald Trump announced that American oil companies will be allowed to operate in Venezuela following a US military action that removed leader Nicolas Maduro, according to reports from Agence France-Presse.
Speaking at his Mar-a-Lago resort in Florida, Trump stated that US firms would invest billions to repair Venezuela's oil infrastructure and generate revenue for the country.
He emphasized that the embargo on Venezuelan oil remains in effect. This announcement came after weeks of military pressure, during which US forces seized at least two sanctioned oil tankers.
Trump warned other Venezuelan political and military figures that 'what happened to Maduro can happen to them.'
Venezuela has been under US oil sanctions since 2019 and currently produces about one million barrels of crude daily, much of which is sold on the black market at steep discounts.
Trump accused the Caracas government of using oil revenue to fund drug trafficking, human smuggling, murder, and kidnapping.
