On January 3, 2026, President Donald Trump announced that “huge United States oil companies” would enter Venezuela to rebuild its energy sector following a massive U.S. military operation that captured President Nicolás Maduro.
Details of the Statement
- Company Involvement: Trump stated that the “biggest [companies] anywhere in the world” will spend billions of dollars to fix Venezuela’s “badly broken” oil infrastructure and start generating revenue for the country.
- Infrastructure Investment: He noted that the oil business in Venezuela had been a “total bust” and that American companies would directly fund the reconstruction.
- U.S. Control: Trump declared that the U.S. would “run” Venezuela until a “safe, proper, and judicious transition” could occur.
- Embargo Status: Despite the planned entry of U.S. firms, Trump clarified that the embargo on all Venezuelan oil remains in “full effect” for the time being.
Context of the AnnouncementThe announcement followed a surprise early-morning military strike on Caracas and other coastal states. Maduro and his wife, Cilia Flores, were captured and are being transported to New York to face criminal charges related to drug trafficking and weapons offenses. Vice President JD Vance and Secretary of State Marco Rubio have supported the action, asserting that “stolen oil must be returned to the United States”.
