Trump administration officials on Wednesday began outlining a makeshift strategy for taking indefinite control of Venezuela’s oil sales, as they race to maintain stability within the nation after overthrowing its leader.
The ambitious, multi-part plan centers on seizing and selling millions of barrels of Venezuelan oil on the open market, while simultaneously convincing US firms to make expansive, long-term investments aimed at rebuilding the nation’s energy infrastructure.
The US would maintain control over the initial revenue generated from the oil sales, officials told lawmakers and energy executives, with plans to ensure that those funds “benefit the Venezuelan people.”
Yet just days after President Donald Trump authorized the capture of former Venezuelan President Nicolás Maduro and declared the US “in charge,” those scrambling to map out a long-term plan for the country are still facing far more questions than they have answers.
“The United States will have a lot of challenges thinking that they’re just going to bring US companies down into Venezuela and they’re going to operate and turn this around,” said one oil and gas industry source in touch with top Trump officials. “That’s not reality.”
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