President Donald Trump said the United States could oversee Venezuela and control its oil revenue for years. Speaking in a wide-ranging interview with the New York Times, Trump said, “Only time will tell” how long U.S. oversight would last and added it could be “much longer.” He also vowed to rebuild Venezuela’s oil sector in a profitable way.
Trump claimed the U.S. would use Venezuelan oil to reduce global prices and provide money to the country, which he said “desperately needs it.” He said Washington was “getting along very well” with the interim government led by Delcy Rodríguez, a long-time Maduro loyalist, and praised ongoing communication through Secretary of State Marco Rubio.
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During the interview, Trump appeared to lift a prior threat of military action against Colombia, speaking positively with President Gustavo Petro. He called their first phone conversation “cordial” and expressed eagerness to meet in person soon. Previously, Trump had called Petro a “sick man” involved in drug trade, raising tensions between the U.S. and Colombia.
U.S. officials indicated that the plan is to influence Venezuela without direct military occupation. Trump plans to meet major oil company executives, including Exxon Mobil, ConocoPhillips, and Chevron, to discuss ways to raise Venezuela’s oil production and rebuild infrastructure. Officials described the companies as potential advisers in rehabilitating the oil sector.
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Venezuela, which holds the world’s largest proven oil reserves, has faced decades of economic decline, corruption, and a massive migration crisis. Trump emphasized the U.S. role in controlling oil sales and revenues indefinitely to restore the industry, while noting that billions in investment will take time to implement.