President Donald Trump has signaled a significant pivot in his administration's strategy for Venezuela, welcoming investment from China and India to help rebuild the nation's crippled energy infrastructure.
Speaking to reporters on Sunday, the President stated that while the United States will maintain indefinite control over Venezuelan oil sales following the capture of Nicolás Maduro earlier this year, he is open to international participation—provided it happens on American terms.
"I have a very good relationship with President Xi, and we’ve already made a deal with India," Trump said, noting that the U.S. is working with New Delhi to pivot their energy imports from Iran toward Venezuela. "We want China to get their oil, but they’re going to pay a fair market price for it now, not the cheap, corrupt prices they had before."
The move is part of the administration's "GREAT Energy Deal," a multi-billion dollar initiative aimed at resurrecting Venezuela as a global "Oil El Dorado." Trump has called for $100 billion in total investment to modernize the Orinoco Belt, which holds the world’s largest proven crude reserves.
The President’s openness to Chinese and Indian capital comes as several major U.S. oil executives expressed hesitation during a White House summit in January, citing the "uninvestible" legal and financial risks currently present in Venezuela. By inviting Asian powerhouses to the table, Trump appears to be seeking a diversified investment pool to accelerate production while ensuring the U.S. remains the primary arbiter of the sector's revenue.
Under the new framework, proceeds from international oil sales are expected to be deposited into U.S.-controlled accounts. These funds, according to the administration, will be used to stabilize the Venezuelan economy and provide humanitarian relief, though critics have raised concerns over the precedent of Washington controlling a sovereign nation's primary resource.
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