Trump Cancels Second Round of Attacks on Venezuela After Cooperation
Trump Cancels Attacks
U.S. President Donald Trump announced that he has canceled the second round of attacks on Venezuela following "cooperation" from the South American nation. On Friday, the President noted that Venezuela has released a large number of political prisoners as a sign of "seeking peace" after last week's U.S. military operation aimed at the abduction of President Nicolas Maduro.
"This is a very important and smart gesture. The U.S. and Venezuela are collaborating well, especially regarding the reconstruction of their oil and gas infrastructure in a much larger, better, and modern form," Trump stated on his social media platform, Truth Social. "Due to this cooperation, I have canceled the second round of attacks, which no longer seems necessary; however, all ships will remain in place for safety and security reasons," he added.
Trump's remarks came just hours after he mentioned in an interview on the Hannity program on Fox News that Venezuelan opposition leader Maria Corina Machado would be visiting Washington next week, despite previously rejecting the idea of cooperating with her, asserting that "she has no support or respect in the country." The Republican President also claimed that the U.S. government has a good understanding with the Venezuelan government led by interim President Delcy Rodriguez.
During the Fox interview, Trump indicated that he would meet with executives from the oil industry at the White House on Friday, stating that oil companies would be investing at least $100 billion in Venezuela, a claim he reiterated on his social media platform. "At least $100 billion will be invested by major oil producers, all of whom I will meet with today at the White House," Trump wrote before the meeting.
The Trump administration has repeatedly asserted its control over Venezuela, with Secretary of Energy Chris Wright stating that Washington will oversee the country's oil industry "indefinitely." Rodriguez, a former deputy of Maduro, stated that her government remains in power as the national oil company reported that it is in negotiations with the United States regarding oil sales.
The White House meeting was announced with participation from leaders of Exxon Mobil, Chevron, and ConocoPhillips. "It is just a meeting to discuss, obviously, the immense opportunity these oil companies have now," stated Trump spokesperson Karoline Leavitt to reporters. Chevron is currently the only American company with an operating license in Venezuela. Exxon Mobil and ConocoPhillips left the country in 2007 after refusing former President Hugo Chavez's demand to relinquish a majority of their local operations.
Venezuela, which has faced sanctions from Washington since 2019, holds about one-fifth of the world's oil reserves and was once a major crude supplier to the United States. However, according to OPEC, it produced only about 1% of total global crude oil production in 2024, hampered by years of underinvestment, sanctions, and embargoes. Trump views the country's massive oil reserves as an opportunity in his fight to reduce domestic fuel prices, a major political issue. However, he may face a challenging task convincing major American oil producers to invest in Venezuela due to uncertainties regarding governance after Maduro, security concerns, and the enormous costs of restoring production infrastructure.
