The United States has announced a groundbreaking policy to assume long-term control over the sale and revenues of Venezuela’s oil, marking a significant shift in Washington’s approach toward the oil-rich South American nation. U.S. Energy Secretary Chris Wright outlined the plan during a major energy conference in Miami, emphasizing that the measure aims to leverage Venezuelan crude exports to advance both political and economic reforms within Venezuela. This move represents the most direct intervention by the U.S. in Venezuela’s energy sector in recent decades and signals a bold approach to influencing the country’s future.
Under the new framework, the United States will oversee the marketing of Venezuelan crude, encompassing both stored oil and future production. The proceeds from these sales will be held in bank accounts controlled by U.S. authorities, with officials stating that the funds could be allocated to programs benefiting Venezuelan citizens while simultaneously serving U.S. strategic interests. By controlling the flow of Venezuelan oil, Washington intends to strengthen its position in international energy markets while using economic leverage to encourage governance reforms in Caracas.
This development comes after an agreement in which Venezuela committed to transferring tens of millions of barrels of previously sanctioned crude to the United States. President Donald Trump confirmed that Venezuela would deliver between 30 million and 50 million barrels of oil, valued at billions of dollars. The arrangement places Washington in direct oversight of both the sale of these barrels and the management of the generated funds. This approach not only increases U.S. influence over Venezuela’s critical oil sector but also provides a mechanism to ensure that revenues are used in ways consistent with U.S. policy objectives.
The U.S. strategy also involves easing certain oil-related sanctions that have constrained Venezuela’s energy industry for years. These sanctions, initially imposed to curb the revenue stream of the Maduro regime, had inadvertently weakened the country’s oil infrastructure. By selectively reducing restrictions, the U.S. seeks to facilitate the resumption of oil production and stabilize Venezuela’s energy sector. The policy also opens the door for U.S. refiners and major energy firms to potentially engage in Venezuelan oil operations, creating economic opportunities while ensuring the United States maintains control over critical exports.
Energy companies, particularly those operating along the U.S. Gulf Coast, have responded positively to the announcement. Firms such as Valero Energy, Phillips 66, and Marathon Petroleum have seen their shares rise amid expectations that an increased supply of Venezuelan crude could bolster refining operations. Discussions between U.S. oil executives and government officials are expected to focus on strategies to revitalize Venezuela’s aging oil infrastructure, including potential investments in production facilities, pipelines, and export terminals. Such initiatives could not only benefit American companies but also improve the reliability of Venezuelan crude for global markets.
Despite the strategic advantages for the United States, the policy has drawn criticism from international observers and Venezuela’s traditional trading partners. Concerns have been raised about the potential undermining of Venezuelan sovereignty and the broader implications for international norms regarding resource control. Critics argue that unilateral control over a nation’s energy exports sets a controversial precedent. Nevertheless, U.S. officials maintain that this level of oversight is essential to ensure that oil revenues contribute to political and economic reforms, as well as humanitarian initiatives, in Venezuela.
The policy is expected to have significant repercussions for global energy markets. Venezuelan crude, once a major contributor to international oil supply, had seen production decline sharply due to economic mismanagement and political instability. With U.S.-supervised sales, Venezuela’s oil could re-enter global markets at scale, potentially stabilizing prices and providing an alternative supply source for energy-hungry regions. Analysts also predict that this move could reshape alliances and trading patterns in the Americas, as countries reassess their reliance on Venezuelan oil and U.S. influence in the region grows.
In addition to market impacts, the policy carries profound geopolitical consequences. By directly managing Venezuelan oil revenues, the United States strengthens its leverage over Caracas, positioning itself as a central actor in shaping Venezuela’s future governance. At the same time, this approach reinforces U.S. energy security by diversifying crude supply channels and ensuring access to one of the world’s largest oil reserves. As the global energy landscape evolves, the U.S. control of Venezuelan crude underscores the intersection of politics, economics, and energy strategy in shaping international affairs.
Overall, the U.S. plan to control Venezuelan oil sales indefinitely represents a bold and unprecedented intervention in the energy sector. By overseeing the marketing and revenue of Venezuelan crude, easing select sanctions, and encouraging international cooperation in revitalizing production, the United States aims to achieve both strategic and humanitarian objectives. While critics caution about the implications for sovereignty and global norms, the policy highlights the crucial role of energy resources in shaping political power and international relations.
