President Donald Trump praised Venezuela during a White House Cabinet meeting, highlighting the nation’s role as a growing energy supplier to the United States. Trump noted the professionalization of Venezuela’s oil industry and the protection of revenues from corruption under US oversight. He emphasized the positive relations between the two countries, with over 10 million barrels of Venezuelan oil delivered to the US since January 3.
Venezuela is undergoing a three-phase process of stabilization, recovery, and transition, according to Trump. He mentioned that revenues from Venezuelan oil sales are now deposited in US-monitored accounts and audited by KPMG to prevent theft. Secretary of War Pete Hegseth emphasized Venezuela’s significance in US regional security and energy strategy, highlighting the partnership’s role in energy stability and homeland defense.
Trump linked Venezuela’s oil production to global energy stability, particularly amidst tensions involving Iran and the Strait of Hormuz. He underscored the potential for increased oil production from the US and Venezuela to lower fuel prices worldwide. Interior Secretary Doug Burgum credited the administration’s energy policies for boosting domestic and regional production, leading to revenue growth and expanded drilling operations on public lands.
The administration’s focus on Venezuela was contrasted with criticism of Cuba by Trump, who expressed concerns about instability in the neighboring country. Trump also mentioned the return of major companies to Venezuela’s energy sector, foreseeing a positive transformation due to the nation’s abundant natural resources. Despite Venezuela’s significant oil reserves, challenges such as sanctions and economic turmoil have impacted production and exports, positioning the country within broader geopolitical competition in Latin America.
