Washington: President Donald Trump said the United States will retain control of recently seized Venezuelan oil, signalling a hardline approach toward Caracas as Washington weighs options ranging from resale to placement in strategic reserves.
US President Donald Trump's Statement
“We’re going to keep it,” Trump told reporters at a Mar-a-Lago news conference on Monday, when asked directly what the administration planned to do with the confiscated crude. Thus confirming that the oil seized by US authorities would not be returned.
Pressed on whether the oil would be sold or used domestically, Trump said the administration had not made a final determination but made clear that Washington would maintain control over the shipment.
“Maybe we’ll sell it, maybe we’ll keep it, maybe we’ll use it in the strategic reserves,” he said. “We’re keeping it.”
Trump also confirmed that he has been in discussions with major US oil companies regarding Venezuela and potential future developments related to the country’s energy sector.
“I have — all the big ones, yeah, I have,” Trump said, when asked if he had spoken with major oil firms about Venezuela.
He refrained from providing details on whether US companies could eventually resume or expand operations linked to Venezuelan oil.
Trump said US actions are aimed at restoring leverage and accountability in dealings with Caracas.
The seizure comes amid continued US sanctions on Venezuela’s oil sector, which Washington has used as a key pressure tool against the government in Caracas. US authorities have previously targeted shipments and intermediaries accused of violating sanctions or attempting to circumvent restrictions.
Trump has repeatedly argued that economic pressure and enforcement are necessary to counter what he describes as mismanagement and corruption in Venezuela, while also protecting US interests.
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