In a significant development concerning international energy politics, U.S. Energy Secretary Chris Wright declared on Wednesday that the United States will maintain indefinite control over the marketing and sales of Venezuela’s oil production. The announcement was made during an industry conference in Miami, Florida.
Secretary Wright outlined the comprehensive plan, stating that the U.S. government will initially market approximately 30-50 million barrels of Venezuelan oil that had been previously stored under sanctions. Subsequently, the arrangement will extend indefinitely to include all future production from the South American nation’s oil fields.
The mechanism established will see all oil sales “conducted by the U.S. government with proceeds deposited into accounts controlled by the U.S. government,” according to Wright’s statements. The Energy Secretary framed this control as necessary leverage to drive political and social changes within Venezuela, while simultaneously claiming that proceeds from these sales would eventually benefit the Venezuelan people.
The policy emerges amid ongoing diplomatic engagements between the Trump administration and Venezuelan leadership, as well as consultations with U.S. petroleum corporations. This development follows recent military actions against Venezuela that have drawn international criticism, with many observers characterizing the intervention as primarily motivated by Venezuela’s substantial oil reserves rather than humanitarian concerns.
The indefinite control of Venezuela’s primary economic resource represents an unprecedented extension of U.S. influence over another nation’s sovereign assets, setting a notable precedent in international relations and energy politics.