Washington, May 28: U.S. President Donald Trump stated on Wednesday that Venezuela is becoming a significant strategic partner for the United States. He claimed that after years of tension and sanctions, the South American nation is rapidly becoming a major energy supplier for the U.S.
During a Cabinet meeting at the White House, Trump noted that Venezuela’s oil industry is now being operated in a “professional manner” for the first time, with U.S. oversight ensuring that oil revenues are protected from corruption.
“Our relationship with Venezuela is quite good. Everything is being managed very well there,” Trump remarked.
He explained that Venezuela is currently undergoing a three-phase process of “stabilization, recovery, and transition.” According to Trump, over 10 million barrels of Venezuelan oil have been sent to the U.S. since January 3.
The President asserted that the income from Venezuela’s oil exports is being deposited in accounts within the U.S., monitored by the Treasury Department and audited by KPMG.
“For the first time, money is not being stolen. It is being used in the interest of the Venezuelan people,” he stated.
U.S. Defense Secretary Pat Hagseth also mentioned that Venezuela has become a crucial part of America’s regional security and energy strategy. He noted that the U.S. Southern Command recently reached the U.S. embassy in Venezuela in a “peaceful manner.”
Hagseth added that this partnership is part of broader efforts to combat drug trafficking gangs and maintain stability in the Western Hemisphere.
Amid rising tensions with Iran and the Strait of Hormuz, Trump linked Venezuela’s oil production to global energy stability. He argued that increased oil production in both the U.S. and Venezuela would lower fuel prices worldwide.
He claimed, “Now the U.S. and Venezuela are producing more oil than Russia and Saudi Arabia combined.”
U.S. Interior Secretary Doug Burgum stated that the administration’s energy policies have accelerated domestic and regional oil production. He noted that Venezuelan crude oil is reaching refineries on the U.S. Gulf Coast, helping to stabilize gasoline prices.
Trump compared his Venezuela policy to that of Cuba, describing the Cuban government as run by “inept communists.” He expressed concern over Cuba’s instability due to its proximity to the U.S.
The President also mentioned that several major companies are beginning to return to Venezuela’s energy sector, suggesting that the country could become “extremely prosperous” in the future due to its natural resources.
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