US Takes Control of Venezuelan Oil Sales, US President Trump Announces Plan to 'Run' Country
The US government has announced it will control the sales of Venezuela's oil "indefinitely," deciding how the proceeds from those sales are used. The statement was made by the US Department of Energy after it began marketing Venezuelan oil on global markets. All proceeds from the sales will settle in US-controlled accounts at globally recognized banks.
The funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the US government, according to the department. The US plans to sell approximately 30-50 million barrels of oil and will continue selling indefinitely.
US President Donald Trump has weighed in on how the proceeds might be spent, suggesting that Venezuela will use its funds to buy products solely from the US. He tweeted that these purchases will include American agricultural products, medicines, medical devices, and equipment to improve Venezuela's electric grid and energy facilities.
The announcement comes just days after the Trump administration abducted Venezuelan President Nicolas Maduro on Saturday in what legal experts say was a clear violation of international law. The US has said it plans to "run" the country and take control of its vast oil reserves.
The move is part of a months-long pressure campaign by the Trump administration against Maduro, who has been charged in New York with drug trafficking offenses that he denies. The campaign includes a partial US naval blockade and the seizure of several vessels that the Trump administration says were transporting oil to and from the country in violation of US sanctions.
The seizures came as senior US officials briefed lawmakers on Capitol Hill about the Trump administration's plans in Venezuela. Most Republicans have backed Trump's actions, while Democrats have raised questions about how long this operation will continue, what it will cost, and whether American servicemen will be deployed on the ground in Venezuela.
Venezuelan Vice President Delcy Rodriguez was sworn in as president earlier this week following Maduro's abduction, stressing that "there is no foreign agent governing Venezuela." The situation remains far from stable, with debates within the Venezuelan regime itself about how to move forward. The military forces control enormous amounts of power and might decide not to be on board with the US plan.
The Trump administration is pursuing a three-phased plan, which begins with the sales of Venezuelan oil. The second phase would see US and other companies gain access to the Venezuelan market, and "begin to create the process of reconciliation nationally." The third phase would be one of transition.
Experts say that the US announcement hints at a return to the concessionary system in place before the 1970s, where producer states own the oil but Western firms manage production and marketing, ultimately retaining the bulk of the profits.
The US government has announced it will control the sales of Venezuela's oil "indefinitely," deciding how the proceeds from those sales are used. The statement was made by the US Department of Energy after it began marketing Venezuelan oil on global markets. All proceeds from the sales will settle in US-controlled accounts at globally recognized banks.
The funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the US government, according to the department. The US plans to sell approximately 30-50 million barrels of oil and will continue selling indefinitely.
US President Donald Trump has weighed in on how the proceeds might be spent, suggesting that Venezuela will use its funds to buy products solely from the US. He tweeted that these purchases will include American agricultural products, medicines, medical devices, and equipment to improve Venezuela's electric grid and energy facilities.
The announcement comes just days after the Trump administration abducted Venezuelan President Nicolas Maduro on Saturday in what legal experts say was a clear violation of international law. The US has said it plans to "run" the country and take control of its vast oil reserves.
The move is part of a months-long pressure campaign by the Trump administration against Maduro, who has been charged in New York with drug trafficking offenses that he denies. The campaign includes a partial US naval blockade and the seizure of several vessels that the Trump administration says were transporting oil to and from the country in violation of US sanctions.
The seizures came as senior US officials briefed lawmakers on Capitol Hill about the Trump administration's plans in Venezuela. Most Republicans have backed Trump's actions, while Democrats have raised questions about how long this operation will continue, what it will cost, and whether American servicemen will be deployed on the ground in Venezuela.
Venezuelan Vice President Delcy Rodriguez was sworn in as president earlier this week following Maduro's abduction, stressing that "there is no foreign agent governing Venezuela." The situation remains far from stable, with debates within the Venezuelan regime itself about how to move forward. The military forces control enormous amounts of power and might decide not to be on board with the US plan.
The Trump administration is pursuing a three-phased plan, which begins with the sales of Venezuelan oil. The second phase would see US and other companies gain access to the Venezuelan market, and "begin to create the process of reconciliation nationally." The third phase would be one of transition.
Experts say that the US announcement hints at a return to the concessionary system in place before the 1970s, where producer states own the oil but Western firms manage production and marketing, ultimately retaining the bulk of the profits.
. The US taking control of Venezuela's oil sales and supposedly "running" the country just sounds super shady to me 
. I mean, what exactly does that even mean for the Venezuelan people? Are they really going to get a say in how their own resources are being used?
. And let's not forget about the whole thing with Maduro getting abducted - that was a clear violation of international law, if you ask me 
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. One thing's for sure: I'll be keeping an eye on this situation from afar 
and whats with the plan for venezuelan people to buy only us stuff? that sounds like a pretty unfair deal 
Trump thinks he can just waltz in there and "run" Venezuela like it's his own personal business? Newsflash Donald, you don't get to be the CEO of a country just because you're the President 
The fact that he's trying to dictate how the oil revenue is spent is straight-up shady 
It just sounds like more of the same imperialistic nonsense we've seen before. I mean, I get it, the Venezuelan people need help, but come on, Trump, can't you just work with Maduro or something? 
Instead of trying to take control of the whole situation. This whole thing reeks of a power grab and I'm not buying it 
it's a huge power move, for sure. but what does it even say about the value we place on a country's sovereignty? like, if the US can just swoop in and take over another nation's resources, is that really democracy or just authoritarianism in disguise? 
it's like, what even is the point of that? is it supposed to be some kind of trade deal or just a way for the US to flex its muscles? 
and what about the people of Venezuela themselves? are they really getting any say in how their country is run?
by the US. like, was that even a legitimate arrest or just some kind of pretext for the US to take over Venezuela? 
and what does it mean for international law and human rights in general?
. And now, with this move, they're essentially attempting to bring back that same system, which would only serve to perpetuate more economic instability and suffering for the Venezuelan people 
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. The situation is far too complex and delicate to be solved through this kind of heavy-handed approach 
? Like, what about the Venezuelan people? Don't they deserve a say in their own country's future? 
. I mean, wouldn't that just perpetuate more inequality and dependence on the US? It feels like a classic case of neo-colonialism to me 
. And what about the long-term consequences of this plan? Is anyone even considering the potential impact on the economy or the environment? 
. Fingers crossed that there's a more sustainable, equitable solution in store 
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. The idea that the US is going to "run" the country and control the oil sales indefinitely is just laughable. Do they really think we'll go for it? I hope so because if not, this whole thing is just a huge mess.
. Who's going to benefit from all this? The US government, probably, but what about the Venezuelan people? Are we really going to let them be held hostage by their own resources?
. The US is essentially saying "we want your oil and you need our help" and that's not a solution to anything. It's just a big game of power and greed, and I'm not buying it