US Seeks Control of Venezuela's Oil Sector Before Holding New Elections
President Donald Trump has indicated that Venezuela is not yet ready for free and fair elections, stating that the country would need to "rebuild" its oil industry before such a move could be considered. The US government's assertion of control over Venezuela comes after the capture of President Nicolás Maduro, with Vice President Delcy Rodríguez currently serving as the acting president.
According to Trump, the current state of Venezuela makes it impossible for the country to hold elections, saying "They couldn't have an election...The country's become Third World, and they wouldn’t know how to have an election right now." In order for new elections to take place, Trump believes that the US needs to exert control over Venezuela's oil sector, with estimates suggesting an investment of at least $100 billion.
Trump plans to meet with top oil executives on Friday to discuss rebuilding efforts in Venezuela. He has stated that he expects significant investment from oil companies and will be involved in overseeing the reconstruction process. While Trump claims that this will ultimately lead to free and fair elections, opposition leader María Corina Machado has expressed skepticism about the feasibility of such an outcome.
Machado, who won the 2025 Nobel Peace Prize, has stated that she is confident of winning a majority of votes in any future election, but her claim seems unlikely given Trump's assertion of US control over Venezuela.
President Donald Trump has indicated that Venezuela is not yet ready for free and fair elections, stating that the country would need to "rebuild" its oil industry before such a move could be considered. The US government's assertion of control over Venezuela comes after the capture of President Nicolás Maduro, with Vice President Delcy Rodríguez currently serving as the acting president.
According to Trump, the current state of Venezuela makes it impossible for the country to hold elections, saying "They couldn't have an election...The country's become Third World, and they wouldn’t know how to have an election right now." In order for new elections to take place, Trump believes that the US needs to exert control over Venezuela's oil sector, with estimates suggesting an investment of at least $100 billion.
Trump plans to meet with top oil executives on Friday to discuss rebuilding efforts in Venezuela. He has stated that he expects significant investment from oil companies and will be involved in overseeing the reconstruction process. While Trump claims that this will ultimately lead to free and fair elections, opposition leader María Corina Machado has expressed skepticism about the feasibility of such an outcome.
Machado, who won the 2025 Nobel Peace Prize, has stated that she is confident of winning a majority of votes in any future election, but her claim seems unlikely given Trump's assertion of US control over Venezuela.