President Donald Trump indicated in a wide-ranging interview on Wednesday that U.S. oversight of Venezuela, including control over its vast oil reserves, could extend for years, as the administration moves to exert significant influence over the country’s interim government following the imprisonment of former leader Nicolás Maduro.
In the nearly two-hour Oval Office interview, Trump described the current cooperation from Venezuela’s interim authorities, led by Delcy Rodriguez—a former vice president under Maduro—as highly accommodating. “They’re giving us everything that we feel is necessary,” he said.
When pressed on the duration of U.S. direct oversight—asked if it would last three months, six months, a year, or longer—Trump responded, “Only time will tell,” but added, “I would say much longer.”
Trump emphasized plans to revive and profit from Venezuela’s oil industry, which holds the world’s largest proven reserves but has suffered severe decline amid economic crisis and past U.S. sanctions. “We will rebuild it in a very profitable way,” he said. “We’re going to be using oil, and we’re going to be taking oil. We’re getting oil prices down, and we’re going to be giving money to Venezuela, which they desperately need.”
U.S. Plans for Venezuelan Oil
Trump’s comments followed announcements earlier in the week about administration intentions to assume control over Venezuela’s oil sales. On Tuesday, he stated that up to 50 million barrels of Venezuelan oil, previously blocked under U.S. measures, would be refined and sold by the United States.
Senior officials have described this as part of a broader strategy to restore the industry’s production and rebuild the economy, with the U.S. maintaining indefinite control over sales and revenues. Several officials noted on Wednesday that such oversight is necessary to prevent corruption and ensure funds benefit reconstruction.
Trump is scheduled to meet Friday at the White House with executives from major U.S. oil companies, including Exxon Mobil, ConocoPhillips, and Chevron, to discuss increasing Venezuela’s oil output. U.S. officials have indicated the approach focuses on influence without a full military occupation.
Relations with Interim Government
Trump said the U.S. is “getting along very well” with Rodriguez’s administration. He declined to confirm personal conversations with her but noted, “But Marco speaks to her all the time,” referring to Secretary of State Marco Rubio, adding that there is “constant communication” with her and the interim leadership.
The administration has not transferred power to Venezuela’s opposition, which the U.S. previously recognized as the legitimate winner of the 2024 election. Trump did not address this during the interview.
Easing Tensions with Colombia
During the interview, Trump took a phone call from Colombian President Gustavo Petro, whom he had recently criticized sharply, including threats of military action over drug issues. Following the hour-long conversation, Trump posted on social media that it was a “great honor” to speak with Petro, who had called to discuss drugs and other disagreements, and expressed anticipation for a future meeting.
Petro described the call as cordial. The discussion appeared to reduce immediate risks of U.S. action against Colombia.
Congressional Reactions
The Senate is set to vote Thursday on a resolution to require congressional authorization for further U.S. actions in Venezuela. Republicans hold a 53-seat majority and have previously defeated similar measures, though recent votes have narrowed, with some Republicans expressing reservations about extended interventions.
