"We are only controlling the marketing and the flow of money into Venezuela, so that those funds can be used to improve the lives of the Venezuelan people, while also reducing the threat to the American people. We are not stealing anyone's oil," US Secretary of Energy Chris Wright stated on 7/1 in an interview with CNBC.
Wright said that when the US launched a raid into Venezuela on 3/1, he telephoned the leaders of three major US oil and gas corporations to discuss their operational prospects in the South American nation. However, according to him, businesses are currently not ready to invest billions of USD in Venezuela because conditions there do not yet allow it.
According to Secretary Wright, instead of continuing the blockade, the US will allow Venezuelan oil to be transferred to US refineries and the global market. However, the US government will manage oil sales "indefinitely", starting with existing crude oil inventory and then future oil production.
Revenue from oil sales will be transferred to accounts controlled by the US government, and then transferred back to Venezuela to "serve the people."
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US Secretary of Energy Chris Wright speaks in Greece in 11/2025. Photo: Fox |
US Secretary of Energy Chris Wright speaks in Greece in 11/2025. Photo: Fox
US Secretary of State Marco Rubio also affirmed that revenue from Venezuelan oil sales will be used to support the country's people, not fall into the hands of the leadership. He added that the US will "control how the funds are allocated" to ensure benefits for the Venezuelan people and promote stability.
US President Donald Trump has stated in recent days that the US will assume a temporary governing role in Venezuela. He said that Venezuela's interim government would "transfer" approximately 30-50 million barrels of high-quality oil to the US, but did not specify a timeframe.
Secretary of State Rubio said Washington is nearing an agreement to control and sell Venezuelan oil, while also pledging to facilitate "fair" access to this market for Western oil and gas companies. Meanwhile, White House spokesperson Taylor Rogers affirmed that the parties "have reached an agreement", though no document has been officially announced.
The statements from the Trump administration are sparking fierce debate in the US Congress. Some Democratic lawmakers criticize the plan to control Venezuelan oil revenue and sales "indefinitely", arguing that it amounts to an annexation of another country's oil industry.
Democratic Senator Chris Murphy called the plan "crazy," while Republican lawmakers were more cautious, expressing confidence in Wright's management capabilities, and requesting that Congress oversee the use of funds from Venezuelan oil.
Thanh Danh (According to TASS, CNBC, CNN, Times, Politico)
