The government led by President Donald Trump confirmed last Wednesday that the United States will assert authority over Venezuela's sovereignty by "controlling" the decisions of the interim government and indefinitely managing oil sales of the country with the world's largest oil reserves.

Caroline Leavitt, White House spokesperson, stated that following a special forces operation capturing former President Nicolás Maduro and his wife on Saturday (3 Jan), the US now holds "maximum leverage" over Venezuela's interim authorities, clearly declaring that "their decisions will continue to be directed by the United States."

Trump called this operation the "Donroe Doctrine," a modification of the Monroe Doctrine, to underscore US dominance over nations in Central and South America, considered the US's backyard.

Trump's economic recovery plan stipulates that Venezuela must deliver between 30 to 50 million barrels of crude oil to the US for sale, with the key condition that "the revenue from these oil sales must be used by Venezuela exclusively to purchase goods produced in America," covering everything from agricultural products, machinery, medical equipment, to energy devices.

The Wall Street Journal reported yesterday, citing sources, that President Donald Trump and his advisors are planning to take control of Venezuela's oil industry over the coming years. The plan under consideration includes controlling PDVSA, Venezuela's state oil company, through joint investment agreements Venezuela has made with US oil companies in the past and present, to purchase and distribute Venezuelan-produced oil.

On the same day, PDVSA disclosed progress in negotiations with the US, where the US must purchase oil at international prices, one day after the US government announced an agreement with Venezuela allowing the US to buy up to 2 billion US dollars (about 62.86 billion baht) worth of Venezuelan crude oil.

Additionally, Chris Wright, US Secretary of Energy, added that the US will manage Venezuela's crude oil marketing "indefinitely" to handle existing oil stockpiles and future production.

While the US declared victory, Venezuela revealed that the US attack resulted in at least 100 deaths and many injuries, including 32 Cuban soldiers who served as bodyguards for Maduro.

Delsy Rodríguez, Venezuela's interim leader, described the incident as "a blemish on international relations unseen before in our history."

To reinforce its power, the US also seized two oil tankers linked to Venezuela, including the "Marinera," flying the Russian flag in the North Atlantic Ocean. Ignoring Moscow's condemnation, the US maintained the vessel was stateless and used a false flag to evade inspection.

On Friday (9 Jan), Trump is scheduled to meet executives of major US oil companies to discuss the "tremendous opportunity" to invest in Venezuela's deteriorating energy infrastructure, although companies have yet to officially commit amid political volatility.

,AFP

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Trump Administration Plans to Seize and Control Venezuelas Oil Industry