The Trump administration will now control oil sales from Venezuela. This radical policy shift aims to restart crude exports. Energy Secretary Chris Wright announced the new plan. The United States will supervise all Venezuelan petroleum exports. Proceeds will go into accounts managed by Washington. This move follows the recent geopolitical shift in Caracas. The strategy seeks to stabilize global oil supplies.
Consequently, the U.S. will oversee a massive resource base. Venezuela holds the world’s largest proven oil reserves. Those reserves total an estimated three hundred billion barrels. Previous sanctions and mismanagement crippled production. The new plan intends to reverse this decline. Secretary Wright explained the rationale in Miami. He spoke at a major energy conference this week.
Furthermore, the administration will initially control oil sales from stored crude. This includes oil stranded in tanks and offshore vessels. The goal is to quickly move this product to market. The United States will also supply necessary diluent. This chemical is vital for processing heavy Venezuelan crude. American refineries are logical primary destinations. Wright emphasized close coordination with Venezuelan authorities.
Moreover, the plan links revenue to political reforms. Funds will flow back to benefit the Venezuelan people. Washington maintains clear leverage for driving change. The long-term vision involves major American investment. International energy companies previously operated there. The administration wants to recreate those conditions. Ultimately, Venezuela could become a prosperous energy powerhouse again.
However, this direct oversight represents unprecedented intervention. The U.S. effectively manages another nation’s key asset. This could reshape hemispheric relations and energy markets. The immediate focus remains on restarting idle infrastructure. Success depends on continued political cooperation. The world will watch this ambitious experiment closely. The administration firmly believes it will work. They will absolutely control oil sales to ensure results.
